OPEC+ expected to stay cautious in face of market jitters
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under the OPEC+ alliance led by Saudi Arabia and Russia are expected to agree
an extension to their current output cuts at a meeting on Thursday.
Their third ministerial meeting of 2021 will be held via videoconference
and is scheduled to start at 1200 GMT.
“The producer alliance is virtually guaranteed to extend current oil cuts
into May,” according to Stephen Brennock of PVM, 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
Thursday, 01 Apr 2021 02:55 PM MYT
Opec+ s third ministerial meeting of 2021 will be held via videoconference and is scheduled to start at 1200 GMT. Reuters pic
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LONDON, April 1 Oil producing countries grouped together under the Opec+ alliance led by Saudi Arabia and Russia are expected to agree an extension to their current output cuts at a meeting today.
Their third ministerial meeting of 2021 will be held via videoconference and is scheduled to start at 1200 GMT.
“The producer alliance is virtually guaranteed to extend current oil cuts into May,” according to Stephen Brennock of PVM, reflecting a widespread view among analysts.
OPEC+ expected to stay cautious in face of market jitters » Borneo Bulletin Online borneobulletin.com.bn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from borneobulletin.com.bn Daily Mail and Mail on Sunday newspapers.
OPEC+ Approves Only Modest Oil Output Increases By AFP News
on April 02 2021 4:51 AM
Oil producing countries grouped together under the OPEC+ alliance led by Saudi Arabia and Russia agreed Thursday to only limited output increases as of next month.
Crude prices shot higher after the announcement, with the main international contract, Brent, rising 1.8 percent to $63.84, while the US contract WTI jumped 2.1 percent to 60.39.
In a statement issued after the meeting, the ministers noted improvements in the market supported by global vaccination programmes and stimulus packages in key economies .
However, they also noted the volatility observed in recent weeks warrants a continued cautious and vigilant approach in monitoring market developments.
Oil moves up toward session highs as OPEC+ officially announces plan to gradually lift output msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.