The sources say that the meeting on 1 February will see no recommendations on oil output policy. Adding that a decision on whether or not to extend the voluntary output cuts into April would only likely come at the end of February. One of the sources did warn that the decision’s timing was not yet clear though.

For some context, OPEC+ ministers will meet online next week for the JMMC meeting.

This article was written by Justin Low at www.forexlive.com.