Another preview look at the OPEC+ meeting on Thursday 1 April

Earlier previews of the OPEC+ meeting on April 1 are here:

A snippet from Commonwealth Bank of Australia (this via Reuters):

  •  “The expectation is OPEC+ is going to show supply discipline, so that’s pivoting the market”

OPEC+ last month surprised the market by agreeing to agreed to extend supply curbs …

  • “Given what’s happened since then, the rationale is even less so to add supply. So we think they’ll maintain that discipline in that meeting”

As some background ahead of tomorrow’s meeting of oil ministers:

Oil price concerns are based on:

  • extended pandemic lockdowns in Europe
  • slow vaccine rollouts and rising COVID-19 cases in India and Brazil

With some glimmers of positivity from:

  • growing optimism on growth in the United States

Source

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