Adds that it is too early to talk about the decision at this point in time
With the oil market “normalising” after recent US-Iran geopolitical tensions, there is a sense that we may have probably seen the peak for oil prices this year already.
The market continues to be well supplied and unless global growth/demand improves significantly over the coming quarters, it is hard to see a natural progression towards anything higher than $70 just off supply and demand alone.
In that sense, OPEC+ will definitely have to keep their current quotas to maintain any form of a floor in oil prices for the rest of the year at least.