Daily Management Review

Experts: OPEC+ may maintain oil production quotas


Prior to the Monday, April 3 meeting of the ministerial monitoring committee, Bloomberg reported that OPEC+ thought maintaining production quotas would be the best reaction to the escalating unpredictability in the oil market.

The agency reports that as a result of the banking problem, oil futures on the London Stock Exchange dropped to about $70 per barrel, a 15-month low. 

Regarding this, "there have been rumors" that Saudi Arabia and its allies may cut back on production, but as of now, OPEC+ is giving every indication of maintaining quotas, according to Bloomberg.

The OPEC+ monitoring committee's ministers did not suggest altering the oil output quotas on February 1.

source: bloomberg.com