WTI Oil Price - May 28

[dan_s]

WTI crude oil price (JUN25) was $62.07 at the time of this post.
Trading Economics:
> Traders awaited an OPEC+ meeting expected to decide on increasing oil output. OPEC+ will likely approve a 411,000 barrels per day production hike for July, continuing a trend of accelerating supply growth following a similar increase planned for June.
> However, Russian Deputy PM Alexander Novak noted that the group had yet to discuss the output increase officially.
> Meanwhile, President Trump voiced frustration with Russian President Putin amid stalled peace negotiations in Ukraine, suggesting that fresh sanctions against Moscow might be unveiled as soon as this week.
> Additionally, the US barred Chevron from exporting Venezuelan crude under a new authorization that allows the company to maintain assets but not to export oil or expand its activities.
> Elsewhere, EU officials are gathering information on US investments from major companies after Trump stepped back from plans to impose hefty tariffs on European goods.