Mexico says it won't cut, then changes its mind
This OPEC+ meeting is some high drama. Evidently Mexico said it wouldn't cut and refused to participate about 30 minutes ago. It abstained from voting.
Evidently there was some kind of arm-twisting and they had a change of heart and agreed to a 400K bpd cut.
Mexico is hedged for the year so they had a strong hand. Bizarre stuff.
WTI didn't take much of a signal from it either way.
There's also news that the next OPEC meeting is on June 10. These cuts are for May and June.
