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The OPEC+ alliance is solid, with the level of cooperation within it strong, according to a statement issued by the Russian Foreign Ministry following a meeting between Foreign Minister Sergey Lavrov and his Saudi counterpart Prince Faisal bin Farhan Al Saud
The technical panel of the OPEC+ group has reduced its global oil demand forecast for 2022 by 200,000 barrels per day (bpd) ahead of the alliance’s meeting on Thursday
Some OPEC members are mulling over the possibility of suspending Russia from the OPEC+ deal that limits the amount of crude oil that each member can produce
The OPEC+ group is expected to rubberstamp next week its moderate monthly increases in oil production when it decides output levels for July
OPEC continues to undershoot its oil production target in the OPEC+ deal, failing in April to boost output as much as required by the agreement