The OPEC+ group is not expected to announce another round of oil production cuts when ministers meet this weekend, OPEC+ sources told Reuters on Thursday. OPEC and its allies from several non-OPEC producers led by Russia are heading to the June 4 meeting amid market speculation whether the OPEC+ alliance will wrong-foot the short sellers again by announcing deeper oil production cuts.
Oil prices have slumped to the low-$70s Brent in recent days, which analysts believe is not enough for Saudi Arabia and other Middle Eastern producers to balance…OPEC+ Unlikely To Announce Additional Oil Output Cuts
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