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Title : OPEC Planning To Boost Oil Production
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OPEC Planning To Boost Oil Production

Zero Hedge: Oil Set To Plunge As OPEC Seeks To Boost Output By 2 Million Barrels

In retrospect, it's impressive that it lasted as long as it did.

Four months after OPEC cobbled together a record production cut to offset the demand destruction unleashed by the covid-19 lockdowns, R-OPEC+ (i.e., OPEC plus Russia and a bunch of non-OPEC exporters) is set to slowly resume pumping more after an alliance of producers led by Saudi Arabia wants to increase oil production starting in August, amid signs that demand is returning to normal levels following coronavirus-related lockdowns Bloomberg and the Journal reported overnight.

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Update: Oil slips as traders eye supply cut easing at OPEC meeting (Reuters).

WNU Editor: Is global demand there for a production boost? Some are saying no .... Is OPEC+ Ready To Relax Oil Output Cuts? (OilPrice.com).

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