Russia reportedly supports rollover of OPEC+ oil production to May

Reuters reports, citing a source familiar with the Russian camp

Russia

The report says that Russia would support a broadly stable output by OPEC+ in May, while seeking a small hike in output for itself ahead of this week’s meeting.

This is a somewhat similar scenario/demand to the last meeting between OPEC+ members.

The meeting this week will take place on 1 April. Even though Russia is pushing to gradually increase production, the key aspect to watch this week will be whether or not Saudi Arabia sticks to its voluntary 1 million bpd cut as they did earlier this month.

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