Looks like someone is pleased that oil prices are holding up

OPEC
  • Venezuela is addressing power blackouts
  • It is 'practically impossible' to cut Iran oil to zero
  • NOPEC would not serve the best interest of the US

In case you missed it, OPEC+ has decided to scrap April's Vienna meeting from the agenda and instead plan one in June to weigh the current production cuts. The next JMMC meeting will first be held some time in May beforehand.

Oil prices are still holding firm this week with WTI sitting just above $59 and continues to look towards an attempt to break above the $60 barrier.