Oil - OPEC+ meeting next week, demand is strong but there is fragility
Via ANZ, a good overview of oil heading into the OPEC+ meeting July 1:
- group ... reviews its production agreement
- Increased travel and strong economic growth is likely to see the recovery in demand accelerate. This will tighten the oil market.
- However, the situation is fragile amid sudden outbreaks of COVID and the possibility of rising supply from a variety of sources.
- The market is calling out for more crude oil, while others are concerned about the inflationary impact of higher prices.
- Oil - OPEC+ meeting next week - murmurs of an increase in supply (from August)
- OPEC forecast US oil production to rise 500K to 1.2m bpd next year
- Russia is reportedly considering proposing an increase in oil production
- Oil analysts says OPEC+ needs to urgently increase supply
- Oil at $100?
- ICYMI - Saudi oil minister says OPEC has a role in taming inflation. A hint of more supply coming?