Optimism Grows Over Oil Demand Recovery ...Middle East

OPEC and partners are betting on a significant boost in oil demand over the coming months as member states get ready to ramp up oil production.  OPEC, Russia, and their allies are planning to increase oil production by 2.1 million bpd by as early as July this year, suggesting the confidence they have in a market rebound. The organization’s output cuts of 7 million will be eased significantly each month between now and July.  Saudi Arabia is also expected to ease its voluntary output cuts to increase production by 1 million bpd by…

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