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Energy Drop-In: Is OPEC+ gearing up for another cut?

Speculation is building that, after its surprise April cut failed to lift oil prices for very long, OPEC+ could use its 3rd-4th June meeting to announce further production cuts. What’s the likelihood of another move, and how would that affect the price outlook?

Economists from our Commodities and MENA teams held a special preview of the OPEC+ meeting. During the 20-minute online briefing, Chief Commodities Economist Caroline Bain and the team answered your questions as they addressed key issues, including:

  • The rationale behind another production cut;
  • How a production cut would affect the 2023 oil price outlook;
  • Implications for the economies of Middle East producers.
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