OPEC+ won't do much at their June meeting

[dan_s]

OPEC+ considers production increase. OPEC+ reportedly discussed two options for increasing production in the second half of the year. According to Reuters, the group weighed a plan that would end over-compliance with the cuts, which could add 0.8 mb/d of supply back onto the market. Or, the group could agree to trim the cuts from 1.2 to 0.9 mb/d. However, the group will wait until the June meeting in Vienna to make a decision, and many members are inclined to extend the cuts.