Organization of the Petroleum Exporting Countries (OPEC) and its allied countries are close to reaching a deal on the oil output, the Wall Street Journal reported on Thursday citing people familiar with the matter.
The deal, set to take effect next month, would entail a slight production boost of up to 500,000 barrels a day, the report read.
The meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) will take place later in the day, after the gathering that took place on Sunday ended without a consensus on the level of oil output cuts in 2021.
