Saudi energy minister comments to Reuters
- Conditions now warrant "hopefully successful" OPEC+ meeting tomorrow afternoon
In case you missed it, the OPEC and OPEC+ meetings have been brought forward to 6 June (tomorrow) and will take place at 1200 and 1400 GMT respectively.
The fact that they are going to meet isn't going to be a "hopefully successful" thing, it is surely a certainty now that they will extend the output cuts deal by at least a month.
It would be foolhardy for Saudi Arabia and Russia to risk derailing the recent recovery in oil prices over compliance issues, which most members never ever adhere to anyway.'
Oil is keeping relatively firm on the day with WTI now 2.3% to $38.27 currently and Brent sitting comfortably above $40 now at $41.20.
