News on Oil – On July 14, the Ministerial Monitoring Committee of OPEC+’s production oversight will gather via a conference call to assess whether members has followed through on the agreed supply cuts. This will be followed where the production cuts will be extended into August with 9.6mio barrels/day or the original plan of 7.7mio barrels per day.
Many are hoping that what took place in their meeting in March – that is a lack of coordination and internal discontent – will not take place again as it could result in higher than usual price swings in Brent.
Either way, let’s keep both our eyes on oil.
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