LOC14:34
11:34 GMT
VIENNA, Oct 1 (KUNA) -- OPEC+ member states are scheduled to meet on Wednesday to set levels for the crude production, OPEC's information office said in a statement released on Saturday.
The meeting will be the first to be held with the member states' representatives physically present at the venue since March 2020, it said.
Analysts believe that the coalition oil producers would maintain a cautious policy and tend to increase the oil output gradually despite fallouts of the war in Ukraine. They also think that the current situation would not affect the accord among the member states that would favor to continue monitoring market conditions without intervention except in cases where the need arises.
The representatives of 13 OPEC states and 10 non-OPEC countries are expected to work out a task paper on forecast supply and demand in second half of this year and producers' adherence to the output quotas.
The meeting is due to be held amid dramatic conditions worldwide due to repercussions of the coronavirus, wars and inflation. It will be held two years after Kuwait became OPEC's chair, with the top post filled by the renowned Kuwaiti oil expert, Haitham Al-Ghais.
Al-Ghais had pledged to work diligently to run the global oil affairs soundly. (end)
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