Headline on news wires attributed to OPEC and oil industry sources
There are some headlines saying that:
- OPEC may decide to raise oil output in June due to concerns about Venezulla production decline and possible Iran oil supply shortage.
- OPEC won't necessarily adjust current output targets for all members in June, may decide to ease record high compliance with supply curbs instead.
The June crude oil contract settled today at $72.13/BBL, down $0.11 or -0.15%. Tomorrow the front contract will be the July contract.
Brent crude oil futures settled at $79.57 up $0.35 or 0.44%. Brent is already trading the July contract.
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