OPEC+ agrees to delay meeting until Friday – Reuters

Citing OPEC+ sources familiar with the matter, Reuters reported on Thursday that the group may delay its ministerial meeting for one day until Friday to have further discussions on the output strategy.

Following this initial headline, sources confirmed that the meeting got delayed until Friday.

Market reaction

Crude oil prices retreated modestly from multi-year highs they set earlier in the day following this development. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $74.90, still rising nearly 2% on a daily basis.