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Two More Sources Say OPEC Unlikely To Agree Further Cuts

OIL

OPEC+ is unlikely to decide on further supply cuts at the next meeting scheduled for 3-4 June in Vienna, two sources from the alliance told Reuters.

  • •Two OPEC+ sources said they did not expect the group to agree further output cuts on Sunday.
  • •Another source said it was too soon to be sure of the outcome on Sunday, while a fourth source said the idea of formalising the voluntary cuts as an OPEC+ decision was being looked at.
  • •OPEC+ is scheduled to hold the meeting at 14:00CET on Sunday. Prior to the meeting, the OPEC ministers will met at 11:00CET on Saturday according to Reuters, although unconfirmed by the alliance.
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