Preview look at the OPEC+ meeting today, on Thursday 1 April

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

Adding now some comments from ANZ, a good recap:
  • OPEC Secretary General Mohammad Barkindo set the tone, saying the environment remains challenging, complex and uncertain. 
  • OPEC’s cautious approach to the demand recovery saw it extend production curbs into April at the last meeting. Since then the outlook hasn’t become any clearer. 
  • Yesterday France announced it was entering another four-week lockdown, while Italy extended virus restrictions. This has delayed the recovery in demand, and kept the physical market remains over-supplied. 
  • With so much uncertainty in the short term, we suspect OPEC will be inclined to keep most of the output curbs in place for another month.
 OPEC+ meeting on April 1

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