The OPEC+ oil alliance has postponed a meeting to decide the next steps of its crude production strategy to Dec. 5, two delegate sources told CNBC.

Crude production from Iraq, Kazakhstan, and Russia has declined in compliance with OPEC+ production cuts, supporting a modest near term upside to Brent prices, Goldman Sachs said.

The OPEC+ alliance of major oil-producing nations has postponed a weekend meeting to December 5 in what analysts said were signs of disagreement among the group over plans to increase output. Analysts say that if OPEC nations maintain their output cuts,

U.S. and global benchmark crude prices settled mixed after a cease-fire between Israel and Iran-backed Hezbollah eliminated much of the remaining risk premium around a wider Middle Eastern conflict.

Oil prices held steady on Wednesday as markets evaluated a ceasefire deal between Israel and Hezbollah while also anticipating Sunday's OPEC+ meeting, where the group could delay a planned increase in oil output.

Crude oil futures held steady on Wednesday on their way to break a two-day losing streak, while market participants expect OPEC+ to postpone production increase

Meanwhile, calls by President-elect Donald Trump and proposed cabinet members to significantly boost U.S. crude production pose a potential threat to OPEC+ market share, though sk

Gaza Oil prices remained steady on Wednesday after Israel and Hezbollah agreed to a ceasefire, while traders weighed the possibility of Opec+ further extending output cuts. Brent, the benchmark for two thirds of the world's oil,