It's very much a given now that an extension is coming
As mentioned earlier, the more crucial aspect of the deal will be if OPEC+ can agree to deeper production cuts at next week's meeting. Otherwise, I reckon oil prices will have little to cheer about in the second half of this year.
WTI is unimpressed by the headlines in the past hour as it still holds near session lows, down by nearly 1% at $58.80 currently. The fall comes alongside the drop in equities amid a WSJ report on US-China relations ahead of the Trump-Xi meeting.
