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OPEC+ on high alert amid market jitters

WORLD / MID-EAST Oil producer alliance expected to extend output cuts By AFP Published: Apr 01, 2021 07:18 PM Oil producing countries grouped together under the OPEC+ alliance led by Saudi Arabia and Russia were expected to agree an extension to their current output cuts at a meeting on Thursday. The producer alliance is virtually guaranteed to extend current oil cuts into May, according to Stephen ­Brennock of PVM Oil Associates, reflecting a widespread view among analysts. It may even go a step further and prolong supply curbs into June, he added, with the possibility that Russia and Kazakhstan may be given some small leeway to increase output as happened earlier in the year.

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