OPEC+ meets subsequent on March 4. The 2 questions occupying the oil market are:
- whether or not Saudi Arabia scales again its 1 million bbl/d voluntary reduce (which is because of finish subsequent month)
- and whether or not there can be an extra improve in provide from the entire group
Not too long ago, Russian Deputy PM Novak expressed help for a gradual improve in oil output, which comes as demand is seen bettering as COVID-19 vaccines are rolled out.
Saudi Arabia is claimed to need to keep output just about across the present stage.