Commodities
Oil Traders See 70% Chance of OPEC+ Holding Current Supply Curbs
- CME Group calculates outcome chances from nearby option values
- OPEC+ to hold meeting Sunday to discuss extending cuts
This article is for subscribers only.
Oil traders see about an 70% chance that OPEC+ makes no changes to its current output cuts during the meeting this weekend, according to options positions on CME Group.
Saudi Arabia and its partners are discussing whether to prolong roughly 2 million barrels a day of production curbs into the second half of the year, with the accord to be completed at Sunday’s gathering. The group is also considering the possibility of extending some restraints into 2025, Bloomberg reported.