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Illustration: Rebecca Zisser/Axios

OPEC+ committees are holding talks today and tomorrow ahead of pivotal meetings in two weeks that will decide the next steps in the group's production-limiting agreement.

Why it matters: The OPEC+ group — led by Saudi Arabia and Russia — could send more signals that they'll delay plans to lower the amount of joint production cuts in order to avoid undercutting the limited and fragile price recovery.

Where it stands: Under the current deal struck in April, the group would lessen the joint cuts by 2 million barrels per day starting in January. But the pandemic's spread is still badly blunting demand, leading analysts to predict they'll hold off.

What they're saying: "The oil trading world is expecting, and has likely gambled on, the alliance to scrap plans of boosting its oil production by 2 million bpd from January," Rystad Energy's Bjornar Tonhaugen said in a note this morning.

  • Tonhaugen said signals "point to a roll-over of current targets for 3 or 6 months, as OPEC+ ministers know that anything less will lead to a huge disappointment in the market and sub-40 oil prices very quickly."

Go deeper

Amy Harder, author of Generate
Aug 6, 2020 - Energy & Environment

Coronavirus hastens Big Oil's Atlantic divide on climate change

Illustration: Aïda Amer/Axios

The pandemic is accelerating a divide between European and American oil companies over climate change and clean energy.

Why it matters: Bottom lines and investor returns will be vastly different across the corporate spectrum depending on how aggressively the world tackles climate change in the coming decades.

57 mins ago - World

HRW: Over 100 former Afghan security members dead or missing under Taliban rule

Members of the Taliban movement patrol Kabul's airport in September. Photo: Valery Sharifulin/TASS via Getty Images

The Taliban have "killed or forcibly disappeared" over 100 former members of Afghanistan's security forces since the group took power in August, a Human Rights Watch report published Tuesday found.

Why it matters: It means former military members and officials from the ousted government, activists and other Taliban critics are facing peril amid executions driven by revenge — despite Taliban promises of an "amnesty" with no retributions, notes the New York Times, which first reported the news.

2 hours ago - World

Barbados becomes a republic, replacing U.K. queen with president

Combination images of Dame Sandra Mason, president of Barbados, and Britain's Prince Charles at her swearing-in ceremony in Bridgetown, Barbados, late Monday.

Barbados officially became a republic at midnight local time after Dame Sandra Mason was sworn in as the Caribbean nation's first president in a ceremony attended by the United Kingdom's Prince Charles.

Why it matters: Mason replaced Britain's Queen Elizabeth as head of state Tuesday — removing the country's final remaining colonial tie to the U.K. almost 400 years after the first British ships arrived in Barbados.