Noting this snippet from an ING note on oil and OPEC.

  • Continued strength in oil prices means that pressure on OPEC+ to pump more will only grow.
  • Already there are calls from the US, India and Japan for the group to increase output more aggressively
  • However, OPEC+ is reluctant to do so, which suggests that oil prices will remain well supported for the remainder of this year

The next 22nd OPEC and non-OPEC Ministerial Meeting (OPEC+) is scheduled for 4 November