Kuwait’s oil minister said on Tuesday that OPEC+ would make a suitable decision to both guarantee energy supply and serve the interests of producers and consumers.
Mohammed al-Fares made his remarks before departing for the OPEC+ meeting which is taking place in person in Vienna on Wednesday for the first time since March 2020, the state news agency KUNA said.
**As a reminder, today’s technical meeting was cancelled yesterday**
The current OPEC rumour-mill is looking for a 1 to 1.5 mpbd cut to output, and this chatter has been enough to add ~5% to price of a barrel of West Texas’ finest.
As always, the market will react based on the difference between expectations and realities, though I’m sure you’re all very aware of that by now.
This article was originally published by Forexlive.com. Read the original article here.