OPEC+ negotiations over production quotas have often been difficult in the past. Oil production tends to vary month by month, making it difficult to fix on a permanent production target. So the higher a production reference level a country can negotiate, the less it actually has to cut to comply wi»»»

At its previous meeting in June 2023, after long negotiations, OPEC+ agreed a complex deal that revised production targets for several members. OPEC+ oil producers are set to meet on Thursday having postponed a November 26 meeting with group sources saying production targets were one of the key fla»»»

OPEC+ has postponed its November meeting by a few days and sources within the group say production targets were one of the key flashpoints of disagreement. OPEC+ negotiations over production quotas have often been difficult in the past. Oil production tends to vary month by month, making it difficu»»»