OPEC+ Has Delayed Its Ministerial Meeting To Nov. 30 From Nov. 26 As Previously Scheduled, OPEC Said In A Statement On Wednesday.
Portfolio Pulse from Benzinga Newsdesk
OPEC+ has postponed its ministerial meeting to November 30 from the originally scheduled date of November 26, according to an OPEC statement released on Wednesday.
November 22, 2023 | 1:24 pm
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NEUTRAL IMPACT
The United States Oil Fund (USO) may experience volatility due to the rescheduling of the OPEC+ meeting, as market participants reassess supply expectations.
The delay in the OPEC+ meeting may lead to speculation and uncertainty in the oil markets, potentially affecting the USO ETF, which tracks the price of oil. However, without further details on policy changes or supply adjustments, the immediate impact is likely to be neutral with increased volatility.
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