OPEC+ ministerial meeting postponed

According to Amac News: CNBC cited sources indicating that the group has delayed its oil ministers' meeting to determine the next steps in its production strategy. Currently, OPEC+ is implementing three sets of voluntary production cuts in response to the uncertain demand outlook.
Under the group's official production strategy, member countries have limited their total output to 39.725 million barrels per day. Additionally, eight OPEC+ members are voluntarily reducing their production by 1.7 million barrels per day until the end of 2025, alongside another cut of 2.2 million barrels per day, which was set to be gradually phased out starting in December.
The OPEC Secretariat announced the change in meeting timing as several ministers from member countries will be attending a meeting in Kuwait on December 1.
It remains to be seen whether the voluntary cut of 2.2 million barrels per day will be extended in response to falling oil prices and weak demand, especially after the recent ceasefire agreement between Israel and Lebanon has reduced the risk of supply disruptions from the Middle East
Moreover, CNBC reports that another factor adding to the uncertainties in the oil market is the return of Donald Trump to the White House. During his first term, the elected president encouraged oil drilling policies to boost U.S. production and targeted some OPEC members with sanctions.