Commodities Corner: Here’s what OPEC+ may do Sunday to keep ‘broad balance’ in the oil market

Members of the Organization of the Petroleum Exporting Countries and their allies have implemented a number of reductions in oil output since late last year, but crude-oil prices still trade lower as 2023 draws to a close.

The group of major oil producers known as OPEC+, including Saudi Arabia and Russia, will meet Sunday in their first official ministerial meeting since early June. The gathering comes more than six weeks after start of the Israel-Hamas war, which only led to a temporary rally in oil prices against a backdrop…