Future Of British Business
OPEC Watchers See Steady Output Even as Saudis Warn Speculators
- Seventeen of 23 surveyed expect quota rollover at June meeting
- Saudi Energy Minister cautioned short sellers to ‘watch out’
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OPEC watchers expect the group and its allies to refrain from further production cuts next week, even after Saudi Arabia delivered a warning to short sellers.
Riyadh and its partners will probably opt to keep output levels unchanged when they gather in Vienna on June 3-4, according to 17 of 23 traders and analysts surveyed by Bloomberg News. Supply curbs already in place should be enough to tighten world markets and buoy prices, they said.