OPEC and its allies have the green light to ease back on their production cuts, after ministers April 27 endorsed previously agreed plans to boost crude oil output from May. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The alliance, which intends to pump some 2 million b/d more crude oil by July, largely from Saudi Arabia, is betting that improvements in the global economy will outweigh the surge of coronavirus cases in India, Brazil, and Japan. For now, rosier demand forecasts and robust vaccination programs in the US, UK, and other countries are enough to give OPEC+ members confidence that a production increase will not tank prices. “In the market, we see […]