OPEC+ will stick to its current plan to ease the oil output cuts from the beginning of May, Reuters reported on Tuesday, citing sources familiar with the matter.
“OPEC+ ministers will hold next meeting in early June to adjust existing output deal if required,” Reuters further noted. “Russia tells OPEC+ ministers in meeting that preference is to keep output plans along existing lines.”
This headline doesn’t seem to be having a significant impact on crude oil prices. As of writing, the barrel of West Texas Intermediate was up 0.7% on the day at $62.40.
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