OPEC+ Not Expected To Alter Oil Production Policy Amid Price Rally

A panel of OPEC+ is unlikely to change the current oil production policy of the alliance at the Friday meeting, several sources in the group told Reuters on Wednesday, as prices rallied to more than a three-month high.  The Joint Ministerial Monitoring Committee (JMMC) of the group, which regularly discusses the situation on the market and the need for OPEC+ intervention, is meeting on August 4 to take stock of the most recent developments.

Since the OPEC+ meeting in early June, oil prices have rallied by more than 16%, driven by easing concerns…