The Joint Technical Committee of OPEC+ maintained its forecasts for the growth of global oil demand at 6 million barrels per day (bpd) in 2021, sources told Reuters.

 

The committee held its meeting on May 30, 2021, to assess the market fundamentals, ahead of the ministerial meeting that will be held on June 1.

 

OPEC and its allies are expected to assess whether producers will have to adjust their production levels over the coming period. Meanwhile, JP Morgan Chase said it is unlikely that OPEC+ will move to boosting production above May levels till next July.

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