The recent assurance from Russian Deputy Prime Minister and key OPEC+ negotiator Alexander Novak - that he does not expect the group to take any new decisions at their next meeting scheduled for 4 June – should not assure anyone. This is even more the .
The key reason why OPEC+ will continue to surprise with additional oil output cuts is simply that Saudi Arabia and many other OPEC countries need oil prices higher to survive and prosper
The recent comment by the Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Haitham Al Ghais, that the International Energy Agency (IEA) should be “very careful about further undermining” oil industry investments highlights .