OPEC+ set to weigh further oil production increase on Sunday – report

Reuters reports, citing two OPEC+ sources on the matter The report says that OPEC+ is likely to weigh a further increase in oil production when the bloc convenes on Sunday. That so as to position themselves to add more barrels if and when the Strait of Hormuz reopens for business.As a reminder, the bloc already agreed to a… The report says that OPEC+ is likely to weigh a further increase in oil production when the bloc convenes on Sunday. That so as to position themselves to add more barrels if and when the Strait of ... The report says that OPEC+ is likely to weigh a further increase in oil production when the bloc convenes on Sunday. That so as to position themselves to add more barrels if and when the Strait of Hormuz reopens for business. As a reminder, the bloc already agreed to a 206k bpd output boost for April when they met in March. That meeting was a bit of a tricky one… For traders, this matters because commodity headlines often feed directly into inflation expectations, sector rotation and currency pricing. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.