Analysis-OPEC+ may stick with deep oil cuts for longer due to weak demand [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
December: it would be risky to increase output because of weak demand, and difficult to deepen supply cuts because some members want to pump more, sources and analysts said. The Organization of the Petroleum Exporting Countries and its allies led by Russia, the group known as OPEC+, which pumps around half the world's oil, has already delayed a plan to gradually lift production by several months this year. It may push back output increases again when it meets on Dec. 1 due to weak global oil demand, according to three OPEC+ sources familiar with the discussions. Ministers last shelved the increase for a month when they met virtually on Nov. 3. "I can't say it's popular in the group but there would be no strong objection to a delay until the first quarter," one of the OPEC+ sources said, declining to be identified by name. Two other OPEC+ sources said it was too early to say what the group will decide. OPEC and the Saudi government communications office did not immediately resp
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