Sources said that the Organization of Petroleum Exporting Countries (OPEC) and the non-OPEC Joint Technical Committee will discuss proposals to allocate production share later this month. It was a nervous issue when OPEC decided to relax production cuts in June.
Sources said the Joint Technical Committee will discuss the proposal on Sept. 17 to allocate 1 million barrels of crude oil a day.
According to sources, "consultation will focus on various mechanisms" to achieve the required level of production.
If resolved, consultations may ease tensions within OPEC. Iran has been opposed to the June decision, which came under pressure from U.S. President Trump to push for lower oil prices.
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