OPEC's June production meeting has been brought forward to Saturday, with traders expecting a surge in supply
2025-05-02 14:20:17
OPEC + has moved forward its online meeting to discuss June production levels to Saturday, delegates said. The meeting, originally scheduled for May 5, could determine the direction of oil prices in the coming weeks. Most traders expect another surge in OPEC supply. Last month, a coalition led by Saudi Arabia and Russia stunned crude traders by pushing OPEC + to triple daily output by 411,000 barrels in May. Delegates said the move was aimed at punishing overproducing members Kazakhstan and Iraq by driving down prices.
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