Oil traders - heads up for the OPEC+ meeting late June

A note for the diary, June 25 and 26

I posted on Goldman Sachs' outlook a little earlier

• Goldman Sachs on oil, OPEC, Russia, Saudi. Hard road ahead for extension of output pact

The bank sees a difficulty path for further output cuts into H2.

A couple of other, points, these made by UBS (in brief):

possibility that production cuts could be underwhelming

• Saudi's have the option to replace Iranian supply in the face of sanctions, although to date they have expressed reluctance to respond given their experience last year
• Russian authorities have stated concern about continuing curbs on production