Global Oil Market on Edge Ahead of OPEC+ Meeting ...Middle East

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Global Oil Market on Edge Ahead of OPEC+ Meeting
source : OILPRICE ( Middle East ) () 46
By Jake Lloyd-Smith, Bloomberg Markets Live reporter and strategist The global oil market is in OPEC+ walk-up mode. That should keep prices supported this week ahead of the (now online) gaggle, which falls on June 2. After that, price direction hinges on the immediate fallout from the meeting, plus bets about the market’s 2H trajectory. Conventional wisdom points to an extension of the cartel’s current curbs, especially as weakening near-term timespreads suggest that physical conditions aren’t quite as tight as they have been…

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