MOSCOW, July 5. /TASS/. The OPEC+ ministerial meeting is delayed because of bilateral consultations, two sources in OPEC told TASS.
"Still telephoning, in the bilateral format," one of the sources said. The other one confirmed that "ministers are communicating."
Negotiations in OPEC+ on oil production levels since August are held from July 1. Parties to the agreement are discussing oil production increase by two million barrels daily from August until the end of 2021. Saudi Arabia suggests simultaneously voting for extension of the agreement after April 2022. The UAE requests increasing the baseline production level for the country from 3.2 mln barrels per day to 3.8 mln barrels per day.