OPEC+ Delays Meeting, Oil Prices Under Pressure

The OPEC and its allies, known as OPEC+, have postponed their policy-setting meeting from November 25-26 to November 30, causing oil prices to drop by over $3 per barrel. The reason for the delay was not disclosed, and it is unclear whether the meeting will be held virtually or in-person. The new date coincides with the start of the COP28 climate summit in Dubai, which is significant for the United Arab Emirates and other Arab energy providers navigating the green transition.