Uncertain about Iranian oil, OPEC+ likely to stick to policy reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
The Organization of the Petroleum Exporting Countries and its allies, including Russia, a group known as OPEC+, is bringing back 2.1 million bpd of oil production through July, easing cuts to 5.8 million bpd. Their next meeting is set for June 1.
Read more about Oil prices steady as demand optimism offsets worries of Iranian supply on Business Standard. Brent rose 13 cents, or 0.2%, to $68.78 a barrel by 0928 GMT
Global oil deficit seen at 1 mln bpd, Russia’s Novak says
The global oil deficit is now seen at about 1 million barrels per day (bpd), Russia’s deputy prime minister Alexander Novak said on Wednesday, days before the OPEC+ top negotiators are to speak via a videoconference.
The Organization of the Petroleum Exporting Countries and its allies, including Russia, a group known as OPEC+, is bringing back about 2 million bpd of oil production through July. Its next meeting is set for June 1.
Any increase of oil production by Iran if indirect talks between Washington and Tehran lead to a lifting of sanctions, can potentially add between 1 million to 2 million bpd on top of the gradual rise OPEC+ supply, analysts estimate.