More on the oil production limitation easings to be discussed by OPEC this week
Earlier post on this is here: OPEC and its partners will consider increasing oil output at a meeting this week
- reports... that OPEC+ will start to ease their production cuts from … 1 August, which is in line with the current deal.
- OPEC+ Joint Ministerial Monitoring Committee (JMMC) set to meet on Wednesday t
- If the group decide to ease cuts from the 1 August, this should not lead to a change in views on the market, with most assuming that OPEC+ would start easing cuts by this stage already.
- However continuing deeper cuts would be more of a surprise.
(bolding is mine, the source of this is an ING oil note Monday)