An extension of the current OPEC+ output cuts deal is all but certain
- Too early to say if extension of production cuts will be at the same level
- There are some ideas for a deeper cut among OPEC members
The real question now comes down to are they going to do more to curb the oversupply issue in markets? The final remark will certainly keep oil traders guessing ahead of their meeting on 1-2 July but if they don't do more, I reckon that oil prices will have a rough time in 2H 2019 amid a decline in seasonal demand as well as a slowing global economy.
