OPEC+ convenes to discuss the state of the oil market amid ongoing recovery and market deficits. Previously, Secretary-General Novak indicated that the group does not intend to implement new production cuts, pointing to improving global demand. The ministers are expected to review market conditions and compliance with existing agreements during Sunday’s meeting. Reuters reported that OPEC+ will not make any immediate decisions regarding its production policy, instead prioritizing an assessment of the current market landscape.
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