OPEC+ to debate possible crude oil cuts of 10mln bpd on Monday – Reuters

Dhwani Mehta FXStreet

Citing a source familiar with the talks, Reuters reported that OPEC+ are likely to debate possible crude oil cuts of 10mln barrels per day (bps) when they meet next Monday.

Additional headlines

ADNOC raised its crude oil production to 4.03mln bpd on April 1.

No firm quotas are set just yet.

There are some new countries wishing to join OPEC+.

Separately, Kuwait’s Oil Minister Khaled al-Fadhel said that he supports Saudi Arabia’s invitation for a meeting between the OPEC and non-OPEC oil producers (OPEC+), scheduled on April 6^th,Monday.

Oil sees a turnaround on likely output cut news

Both crude benchmarks reversed losses and jumped back on the bids on the above headlines, with WTI rallying nearly 1.50% to regain

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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