OPEC postpones meeting to set future production quotas for its members

Initially scheduled for December¹, the meeting of OPEC+ producer countries has been postponed to December 5. At this meeting, the producer countries, led by Saudi Arabia and Russia, were due to set the future production quotas for the members of the organisation and its partners. The producer countries are finding it difficult to share out among themselves the effort required to support oil prices. Some countries are also accused of not respecting the quotas agreed by the OPEC+ group and of free riding. The meeting on 5 December is expected to confirm that quotas will be maintained at their current level, with some countries voluntarily cutting production in excess of their quotas. But the agreement presupposes a strengthening of discipline within the group.