OPEC Agrees To Schedule Meeting On July 1-2

After weeks of disagreements, conflicting reports, and discussions about scheduling conflicts, OPEC has finally decided when it will hold its key meeting to decide whether to extend the oil production cuts beyond June—it is postponing the originally scheduled June 25-26 meeting with a week, to July 1 and 2. According to the changed timeline of the upcoming events on OPEC’s website, the Joint Ministerial Monitoring Committee (JMMC)—which reviews market fundamentals and makes recommendations to the whole group—will meet on…