OPEC+ still expected to roll over oil supply cut of 1.2 mln bpd beyond June - Reuters

Eren Sengezer FXStreet

Citing OPEC sources familiar with talks, Reuters reported that OPEC+ was still expected to roll over the oil supply cut of 1.2 million barrels per day beyond June.

"It is just thinking aloud about what to do in case trade tensions are exacerbated with potentially huge adverse impacts on the world economy, and thus oil demand," one of the sources told Reuters.

"Now all the talk among OPEC is a rollover. There is no official proposal, just discussions of the idea for a larger cut."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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