OPEC+ is meeting July 6 and I would have assumed the baseline in the market was for another large 411K output hike but oil dipped after Bloomberg reporting that OPEC is set to weigh another 'super-sized' oil output increase.
For me, this isn't a surprise at all and it would be something of a shock if they don't add 411K bpd. I'd assume the same next month while it's the meeting after that where it could change, depending on oil prices/inventories.
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