Opec+ ministers concluded a landmark deal following a series of often-fraught meetings in Vienna over the weekend of 3-4 June. Much of the post-meeting focus has been on Saudi Arabia’s pledge to voluntarily cut output by a further 1mn b/d for July. But arguably the most important outcome was the agreement to switch from long out-of-date output baselines to independently-assessed figures more reflective of existing production capacity.
JUNE OPEC+ MEETING: KEY OUTCOMES
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