OPEC not to recommend action on oil output policy

A ministerial panel of major OPEC and non-OPEC producers will not recommend a course of action on oil output policy on Sunday, but will highlight the need to continue monitoring the market until the next meeting in June, a source familiar with the discussions said.

The panel of top oil producers, including Saudi Arabia and Russia, was meeting in Jeddah on Sunday. The source added the meeting would task the Joint Technical Committee (JTC) to continue with market analysis and monitoring until June.