OPEC+ delays oil output meeting after UAE reservations, sources say

OPEC+ ministers have agreed to delay their planned ministerial meeting by a day to Friday for further consultations on oil output policy, sources said on Thursday. Two sources said the agreement to delay followed reservations by the United Arab Emirates about proposals to extend the OPEC+ pact on supply restraint from its existing April 2022 expiry date to the end of next year.

One OPEC+ source said the UAE had suggested OPEC+ revise the production baseline used for calculating output cuts.