OPEC+ Watchers See Coalition Affirming Plan to Revive Oil Supply
- All but four of 24 in survey expect OPEC+ to ratify July hike
- Coalition scheduled to add 840,000 barrels a day in July
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OPEC and its allies are expected to reaffirm plans to boost oil production when they meet next week, restoring some more of the output halted during the pandemic.
All but four of 24 analysts and traders surveyed by Bloomberg predicted that OPEC+ will ratify an increase of 840,000 barrels a day scheduled for July, completing a three-part process to revive just over 2 million barrels this summer. Several OPEC+ delegates, who asked not to be identified, said the same.