OPEC+ said to be discussing deepening current oil output cuts at least until June

Author: Justin Low | Category: News

Reuters reports, citing two unnamed sources on the matter

Says that OPEC+ is discussing to deepen the current set of output cuts by at least 0.4 mil bpd until June next year as Saudi Arabia is keen to surprise the market to the upside before the Saudi Aramco IPO.

This just adds to the story over the weekend and that should continue to keep oil prices underpinned as we begin the week. WTI is up by 1.7% currently to $56.15.

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