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Oil prices under pressure amid doubts about timing of OPEC+ meeting

June 3, 2020


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.

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