A scenario in which a group of major oil producers known as OPEC+ decides to “flood the market” is seen as a long shot, but still something to consider given that history has been known to repeat itself.
The Organization of the Petroleum Exporting Countries and its allies are expected to announce their decision on oil output quotas at a virtual gathering on Thursday — four days after postponing their ministerial meeting that had been previously scheduled for Sunday.
Master your money.
Subscribe to MarketWatch.
Get this article and all of MarketWatch.
Access from any device. Anywhere. Anytime.
Already a subscriber?
Read the full article here