Greg had the breaking headline on this:

A little more detail now:

  • eight OPEC+ countries will meet on May 31, a day earlier than previously planned
  • Reuters with the info, citing three unnamed sources
  • meeting will likely decide on July output
  • sources previously told Reuters will entail another 411,000 barrels per day of production
  • meeting is separate from the online ministerial meeting of the Organization of the Petroleum Exporting Countries and its allies, led by Russia, set for May 28
  • Russian Prime Minister Alexander Novak said that OPEC+ has not yet discussed hiking output by another 411,000 barrels per day ahead of its meeting
OPEC
Source: Forex Live