The ‘Group of Eight’ put an end to weeks of market speculation on 3 March when the producers reaffirmed that they will begin unwinding 2.2mn b/d of voluntary cuts from 1 April. With prices weakening in the buildup, speculation had been building that another deferral might be required, although MEES assessed that production increases remained the likeliest outcome (MEES, 28 February). Voluntary cuts will ease by 138,000 b/d in April as a result (see table 1).