The Wall Street Journal with a wrap up of the weekend meeting of the Joint Ministerial Monitoring Committee (JMMC)

  • OPEC and allies moved closer to continuing existing production targets through the end of the year
  • the group has also been looking at a handful of scenarios, some of which would involve easing production curbs

"Today, we are looking at various options [for the second half of 2019] including softening the production levels," Russia's energy minister Alexander Novak told reporters. "If there is a growth in demand, we are ready to consider and mitigate those parameters, a partial recovery of production," he said.

WSJ article is here, may be gated. Despite Mideast Tensions, OPEC Inches Closer to Maintaining Production Cuts Through 2019

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Background to the weekend meeting:

  • OPEC and allies agreed last December to cut output by a collective 1.2 million barrels a day
  • The agreement expires in June
  • There is a full OPEC+ meeting next month to finalise production options