Opec Meet News Today

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Saudi Arabia, Russia and other members of OPEC+, who pump more than 40% of the world's oil, met online on Thursday to discuss supply policy.

No wonder the group postponed its year-end meeting. Initially scheduled for last weekend in Vienna, the meeting is now planned for Thursday, barring another postponement. The agenda -- whether to cut production further, and by how much -- is likely to be unpalatable for many of the 23 members.

Oil prices rose about 4 per cent on Monday, extending gains as OPEC+ members agreed to a small production cut to bolster prices.

OPEC and its allies decided to maintain their policy of modestly boosting oil output next month