Mubasher: The Organization of the Petroleum Exporting Countries (OPEC) announced that its members and allies would hold their meeting on 1 and 2 July.

The 176th meeting of the OPEC Conference will be on 1 July followed by the sixth gathering with the non-affiliated allies, including Russia, in the next day, according to the producer club’s website.

The so-called OPEC+ alliance is expected to decide whether to roll over production cuts through the rest of this year.

OPEC+ has been withholding oil supplies by 1.2 million barrels per day (bpd) since the beginning of this year, with 11 members of OPEC alone cutting 800,000 bpd.

The biannual meeting had been delayed several times, as it was initially slated for last April, but it was later postponed for 25 and 26 June.

Russia’s Alexander Novak proposed to delay the gathering to early July to avoid clashing with G20 discussions in Japan later this month.

The delay was opposed by Iran, an OPEC member, but later Oil Minister Bijan Namdar Zanganeh approved of rescheduling the meeting, if it is to be held on 10 and 12 July during a meeting with Novak in Tehran earlier this week.