Will OPEC+ Extend Its Historic Production Cut Agreement?

OPEC+ is set to bring forward its meeting to Thursday, with a short extension of the current production cuts as the most likely outcome.  Originally scheduled to take place on June 9, OPEC is now looking at moving it up to June 4. The latest reports suggest that the idea would be to extend the current output restrictions for one to three months. As it stands, without an extension the extraordinary cuts agreed upon in April – 9.7 million barrels per day (mb/d) – will expire at the end of June. But nothing has been decided yet and…