A group of key OPEC+ nations led by Saudi Arabia and Russia are discussing another output hike of roughly 400,000 barrels per day in June ahead of a May 3 video conference to set policy, Bloomberg’s Salma El Wardany, Grant Smith, and Nayla Razzouk report. The group last month stunned traders with a 411,000 barrels per day increase, and they’re considering doing the same again for June, the authors say.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on USO:
- Trump says buyers of Iranian oil won’t be allowed to do business with U.S.
- EIA natural gas storage change for week ending April 25
- Unusually active option classes on open May 1st
- Crude inventories for the week of April 25
- API crude inventories for week of April 25
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue