OPEC+ is likely to stick to the existing pace of gradually easing oil supply curbs at a meeting on Tuesday, OPEC sources said, as producers balance expectations of a recovery in demand against a possible increase in Iranian supply. The Organization of the Petroleum Exporting Countries and allies decided in April to return 2.1 million barrels per day (bpd) of supply to the market from May to July, as it anticipated global demand would rise despite surging coronavirus cases in India. Oil has extended this year’s rally since the decision and has gained over 30% in 2021 to $68 a barrel . Still, the prospect of higher Iranian output as talks make progress on reviving its nuclear deal with world powers has limited the upside. Two OPEC+ sources, speaking on condition of anonymity, said there were no talks on amending the oil output-cut levels for July, while two more […]