No OPEC+ meeting in April, next one to be in June
- Next JMMC meeting likely in first half of May
- Date to be announced in the next two weeks
- Inventory glut needs to be drained before cuts are ended
- Confident that March oil output cuts compliance is to exceed 100%
Unless the Saudis themselves step up with further cuts, it's hard to see how they can keep up with >100% compliance. That said, sentiment remains that as long as they are still doing their part it should keep oil prices underpinned over the next few months.
