As there was no objection to the next meeting of OPEC+ being brought forward to June 4 from June 10, the decision can be made today.
Report informs, citing TASS that according to sources in OPEC, the member states should agree to keep cutting the output after this month. Although the Middle East countries offered to extend the output cut for May-June until the end of the year, Russia did not agree with it, and currently, the extension of this period for three months is discussed more often.
Another source said that the final decision to bring forward the meeting should be passed after the results of the deal’s fulfillment in May become known.
One more source thinks that as the results will be announced today, the decision to bring forward the meeting can be made today.
According to the latest amendment in the ‘Declaration of Cooperation,’ the quotas for OPEC+ countries are set at 9.7 million barrels in May-June, 7.7 million barrels from July 1 until the end of 2020, and 5.8 million barrels from January 2021 to April 2022. The OPEC+ countries had planned to discuss the situation via video conference on May 9-10.
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