Iraqi Official: OPEC+ meeting to take into account market conditions

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“The OPEC+ meeting in December will take into account the condition and balance of the market,” Iraq’s state news agency quoted Saadoun Mohsen, a senior official at the country’s state oil marketer (SOMO), as saying on Saturday.

Elsewhere, the talks among the members of the Group of Seven Nations (G7) and the European Union (EU) continue to drag on the Russian oil price cap. As per the latest updates, the $65 per barrel is the sticking point as discussions are likely to resume on Monday.

The news should exert downside pressure on the WTI crude oil prices which dropped to $76.30 by the end of Friday’s trading session.

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