(5 Dec 2024)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Vienna, Austria – 5 December 2024
1. OPEC entrance with Christmas lights decoration
2. Lights
3. Screen reading (English): "Welcome to OPEC"
4. OPEC building
5. Close of lights
6. OPEC logo with lights
7. Entrance with lights
8. OPEC sign on building
9. Wide of OPEC building and street
STORYLINE:
The OPEC+ alliance of oil exporting countries decides Thursday whether to put off plans to pump more crude, as members face sluggish demand and competing production from non-allied countries – factors that could keep oil prices stagnant into next year.
The oil cartel once again decided not to meet at their headquarters in Vienna and instead chose to fold a virtual meeting online starting at 11:30 GMT on Thursday.
Virtual meetings have been increasingly popular with the organisation since the COVID-19 pandemic and the start of the Ukraine war.
The Organization of the Petroleum Exporting Countries is an intergovernmental organization founded in 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
It has since expanded to 12 member countries.
In 2016, largely in response to dramatically falling oil prices due to U.S. shale oil output, OPEC signed an agreement with 10 other oil-producing countries to create OPEC+.
AP video shot by Philipp Jenne
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