OPEC meeting is expected to retain the status quo - TDS

Research Team at TDS, suggests that the June 2nd OPEC meeting is expected to retain the status quo as the current policies have been successful in lifting prices and rebalancing physical markets.

Key Quotes

“The backdrop of oil prices hitting the $50 per barrel mark for the first time since late-2015, firm demand growth, declining non-conventional production levels and a loss of some 3.4 million b/d of production due to Northern Alberta wild fires, Nigerian sabotage and recent turmoil in Venezuela are all reasons OPEC will not have much appetite to change its behaviour in Vienna this week.”