No surprises expected at the OPEC meeting – TDS

In opinion of strategists at UOB Group, the upcoming OPEC meeting in Vienna on June 2 should yield no big announcements.

Key Quotes

“The June 2nd OPEC meeting is expected to retain the status quo as the current policies have been successful in lifting prices and rebalancing physical markets”.

“The backdrop of oil prices hitting the $50 per barrel mark for the first time since late-2015, firm demand growth, declining non-conventional production levels and a loss of some 3.4 million b/d of production due to Northern Alberta wild fires,