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OPEC+ Expected to Rebuff Calls to Replace Lost Russian Oil

  • All 23 traders, analysts surveyed see OPEC+ sticking to plan
  • Cartel meets on Thursday to discuss May output policy
Bloomberg business news
Oil Pares Losses After Dipping Below $100

OPEC and its allies are expected to rebuff calls this week to fill in the supply gap left by falling oil exports from coalition member Russia. 

The 23-nation group led by Saudi Arabia will probably ratify plans for another modest production increase scheduled for May when it meets on Thursday, according to a Bloomberg survey. Several delegates from the Organization of Petroleum Exporting Countries and its partners privately predict this outcome, and public comments from key nations point the same way.