OPEC+ JMMC meeting to take place on August 19th – Reuters

The Organization of the Petroleum Exporting Countries' (OPEC) Joint Ministerial Monitoring Committee (JMMC) meeting will take place on August 19th, a day later than the earlier planned date, Reuters reported on Friday, citing three OPEC+ sources.

Market reaction

Crude oil prices showed no reaction to this headline. As of writing, the barrel of West Texas Intermediate was trading at $42, losing 0.75% on a daily basis. Meanwhile, the barrel of Brent was losing 0.67% on the day at $44.75. Later in the day, Baker Hughes' weekly US Oil Rig Count data will be looked upon for fresh impetus.