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OPEC+ meeting preview: Will more production stall crude's impressive rally?


OPEC+ meeting preview: Will more production stall crude’s impressive rally?
Ahead of Thursday’s meeting, cracks are emerging in OPEC+’s united façade once again - what will that mean for the price of crude?
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Markets are starting the week off on a bullish note on the back of US stimulus package hopes, with equities rising across the globe, bond yields reversing Friday’s surge, and oil prices supported near their 14-month highs.
Crude oil will be particularly interesting for traders this week ahead of Thursday’s highly-anticipated OPEC+ meeting. After all,
the cartel’s failure to reach an agreement was one of the primary factors that drove oil prices into negative territory last April (I still have trouble believing this happened, nearly a year later!). After that catastrophic development, coordination between Saudi Arabia and Russia increased, culminating in a nearly 9.7M b/d cut to p ....

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