For the oil traders, eyes on the cartel meeting (and its friends) in Vienna on Wednesday.
Reuters cite their sources:
- “Current oil prices around $70 are okay. OPEC+ is likely to continue as planned with the increase of 400,000 bpd,” said one source.
While from ANZ:
- the OPEC+ alliance is set to review the current production cut agreement. With rising coronavirus case number globally, the market will be on the lookout for any sign the group may be considering halting the scheduled increase in production in coming months.