OPEC+ To Meet On October 5 To Discuss Production Cuts

Reuters: OPEC+ has begun talks on output cut at Oct. 5 meeting - OPEC source 

DUBAI, Sept 29 (Reuters) - Leading OPEC+ members have begun discussions about an oil output cut at the group's next meeting on Oct. 5, three sources told Reuters. 

 One OPEC source told Reuters a cut was "likely", while two other OPEC+ sources said key members had spoken about the topic. 

A source familiar with Russian thinking told Reuters earlier this week that Moscow could suggest a cut of up to 1 million barrels per day (bpd). The latest comments suggest that key OPEC members have started communicating over the matter, although the volume of any potential cut is still unclear. 

Next week's meeting takes place against a backdrop of falling oil prices from multi-year highs hit in March, and severe market volatility.  

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WNU Editor: My gut tells me that there will be a push at this OPEC+ meeting to cut production that will deliberately and significantly raise oil and gas prices to impact the US midterm elections, while bleeding the US strategic oil reserves at the same time. 

OPEC+ To Meet On October 5 To Discuss Production Cuts  

OPEC+ Is Considering A Substantial Oil Production Cut -- OilPrice.com  

Russia seen suggesting OPEC+ cuts oil output by 1 million bpd - source -- Reuters  

Crude Rallies on Reports Russia Will Push for OPEC+ to Cut Output -- Barchart  

How OPEC+ Could Send Oil Prices Soaring Again -- OilPrice.com