Oil - the likelihood is that OPEC+ will agree to a short extension, but risk of no deal is high

Comments via ANZ on the OPEC cartel and partners (ie Russia) meeting coming up on Thursday.

• We suspect OPEC+ will agree to a short extension, with a specific phased return to nominal production levels over the subsequent few months.

But:

• The risks of the OPEC+ alliance failing to reach an agreement are high.

---

ps ICYMI:

• Oil - OPEC+ has delayed its meeting to decide on output cuts until Thursday