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OPEC+ to maintain oil output policy until June; next meeting likely swift. Members agree on 2.2M bpd cuts until Q2 end. Oil prices strong, Brent above $86/barrel. JMMC to review market on April 3. No policy changes expected until full ministerial meeting in June.
property from the company as well. . ~' ,, property from the company as well. . ~' i” ., well. mariko oi, thank you for that, the _ well. mariko oi, thank you for that, the ongoing _ well. mariko oi, thank you for that, the ongoing saga - well. mariko oi, thank you for that, the ongoing saga of - that, the ongoing saga of evergrande in china. the organisation of petroleum exporting countries and its allies, led by russia, known as opec plus, for to review output policy, closely watched as the price of oil has been rising steadily in recent weeks where supply disruptions and recovering demand from the pandemic have pushed up oil, at one point above $80 a barrel. injuly one point above $80 a barrel. in july the one point above $80 a barrel. injuly the group agreed to boost output by 400,000 barrels a day and now it is expected to consider raising production to meet the surge in demand globally. let's discuss this with neil beveridge. good to have you on the programme. what are you expecting from opec plus today? i are you expecting from opec plus today?— plus today? i think we have come to — plus today? i think we have come to with _ plus today? i think we have come to with their- plus today? i think we have | come to with their meetings plus today? i think we have i come to with their meetings is to expect the unexpected so i think there is a range of scenarios that will be considered today but we expect policy to remain essentially unchanged so we think they will
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Oil gains ahead of OPEC+ meeting on output policy Reuters TOKYO | Updated on × Crude prices rose on Thursday,recouping some of the previous session's losses on expectations that a meeting of OPEC and its allies later on Thursday would yield output constraint in the face of resurgent Covid-19 infections in some regions. Brent crude for June delivery was up by 31 cents, or 0.5 per cent , at $63.05 a barrel by 0159 GMT after falling 2.2 per cent overnight. US oil was up 38 cents, or 0.6 per cent , at $59.54 a barrel, having dropped 2.3 per cent on Wednesday. Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia and Kazakhstan, a group called OPEC+, meet later on Thursday to consider options that include an output roll-over and a gradual output increase.