Major oil-producing countries will meet in Vienna on July 1 and 2, the OPEC Secretariat announced Wednesday, replacing the previously scheduled June 25-26 meetings.
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The meeting was postponed to avoid clashing with G20 discussions in Japan in late June.
OPEC and its allies, an alliance known as OPEC+, have been reducing oil output by 1.2 million barrels per day since Jan. 1 to support the market. Their next meeting is to decide whether to extend the pact till December.
The oil producers group, which pumps more than half the world’s crude, has been bickering for a month about the timing of ministerial talks.
Their failure to agree a date just weeks before their production cuts expire gives turbulent markets little reassurance as crude prices extend their slump, Bloomberg reported.
It said an OPEC committee sees global oil inventories shrinking by almost 500,000 barrels a day if the group keeps restraining supplies.
