OPEC+ meeting June 1 to discuss current output policy Oil market will tighten without a faster easing of production cuts: Birol Oil prices approach three-month high despite potential deal with Iran Global oil prices will face further upward pressure unless OPEC and its oil producer allies agree to return more crude to the markets in the coming months to meet a strong demand rebound, according to the head of the International Energy Agency Fatih Birol.  OPEC+ ministers are meeting June 1 to weigh their current policy of raising production by a combined 2.1 million b/d over the May-July period. The move comes as oil prices trade near a three-month high of $71/b, fueled by signs of a surge in global oil demand this summer as most countries lift pandemic lockdowns. “Over the next six months, I […]