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.