OPEC+ Decision on Output Likely to Prioritize Dollars Over Demand
Group must increase production at June 1 meeting to balance the market, analysts say, yet that likely won’t be the top priority for ministers.
OPEC analysts say the producer group needs to increase output to match demand when it meets June 1. The gathering comes just as summer driving season begins in the US and Europe.
Photographer: Eric Thayer/BloombergWelcome to Energy Daily, our guide to the energy and commodities markets powering the global economy. Today, oil strategist Julian Lee assesses the likelihood OPEC+ ministers will follow the data and raise output next month. To get this newsletter sent straight to your inbox, you can sign up here.
Ministers from the OPEC+ group of oil producers must agree to raise output when they meet June 1 if they really want to balance the market.