Kuwait's oil minister said on Tuesday that OPEC+ would make a suitable decision to both guarantee energy supply and serve the interests of producers and consumers.
Mohammed al-Fares made his remarks before departing for the OPEC+ meeting which is taking place in person in Vienna on Wednesday for the first time since March 2020, the state news agency KUNA said.
**As a reminder, today's technical meeting was cancelled yesterday**
The current OPEC rumour-mill is looking for a 1 to 1.5 mpbd cut to output, and this chatter has been enough to add ~5% to price of a barrel of West Texas' finest.
As always, the market will react based on the difference between expectations and realities, though I'm sure you're all very aware of that by now.
