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7/1, 8:13 PM (Source: TeleTrader)
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OPEC+ to continue talks on July 2

The discussions between the Organization of the Petroleum Exporting Countries (OPEC) and its partners (OPEC+) will continue on July 2, OPEC announced on Thursday.

Today's Joint Ministerial Monitoring Committee (JMMC) meeting reportedly did not result in a recommendation for future oil production.

According to media reports, the UAE, Kazakhstan and Iraq voiced their strong opposition to a 400,000 barrels per day (bpd) monthly increase for five months that would translate to 2 million bpd returning to the global oil market by the end of 2021.

Breaking the News / MS