MNI Commodity Weekly: Oil Markets Look Towards OPEC Meet After Geopolitical Risks Fade
• Oil Markets Look Towards OPEC Meet After Geopolitical Risks Fade: The latest OPEC meet June 1 is expected to see a rollover in current cuts but markets remain on edge after the last gathering highlighted a lack of cohesion in the group resulting in Angola leaving.
• Oil Markets: Crude prices are falling with focus on global demand offsetting Middle East tensions and a possible OPEC+ output cut extension. Oil product prices are under downside pressure with signs of weak fuel demand as gasoline cracks fall to the lowest since late February. (Pg.4)
• Analyst Views: See latest market outlooks by biggest industry names. (pg.7)
• Gas Markets: European Gas markets have edged down slightly this week, as Norwegian outages abate and warmer weather covers Europe, with TTF in a range of €29.165/MWh to €31.480/MWh. LNG imports are expected to rebound in Asia as rising temperatures boost cooling demand. (Pg.9)
Full piece here:
MNI Commodity Weekly - Oil Markets Look Towards OPEC Meet After Geopolitical Risks Fade .pdf