Oil Traders Brace for Another Saudi-Led OPEC+ Oil Supply Surge
The Organization of the Petroleum Exporting Countries headquarters in Vienna.
Photographer: Stefan Wermuth/BloombergOil traders expect Saudi Arabia to steer OPEC+ to agree on another supply surge next week as the kingdom continues its campaign to discipline the cartel’s errant members.
Key OPEC+ members will probably agree to hike output in June by significantly more than the scheduled amount when they hold a video conference on May 5, according to roughly 60% of traders and analysts surveyed by Bloomberg.