Oil futures headed lower on Wednesday after settling at a three-month high in the prior session, amid reports that a meeting of crude producers won’t happen on Thursday as had been expected, raising doubts about a willingness to substantially extend global production cuts that taper at the end of June.
Amena Bakr, deputy bureau chief at Energy Intelligence and a prominent voice in the energy community, said that a June 4 meeting of the Organization of the Petroleum Exporting Countries and its allies appeared “unlikely,” via Twitter on Wednesday.
