Via Reuters on oil and OPEC over the weekend, quoting "a senior Gulf OPEC delegate":
- "It is unlikely that OPEC will make a decision regarding its production ceiling for two reasons: the first one that Russia and other non-OPEC producers have expressed their non-desire to cooperate in any idea of a production cut
- And the second one is that the market is firming up. Prices are expected to continue at current levels and most likely will go higher. Demand is also strong and the inventories are balanced. The market seems to be in good shape"
The report goes on with remarks from "Two officials from other OPEC producers ":
- "I don't think there will be any changes," said an official from an African OPEC member, referring to OPEC's output policy decision on June 5.
- "Prices ... are within $60-$65, at least they are improving from where they were at before," another Gulf OPEC delegate said. "There is still an oversupply in the market, but the oversupply is less than what it was in November."
