Crude Oil Futures Dip as Doubt Lingers Around OPEC+ Talks

Crude oil futures were trading lower in mid-morning trade in Asia on June 4 as uncertainty crept up on the market amid reports that OPEC+ talks were bogged down over quota compliance.

At 10:24 am Singapore time, ICE Brent August crude futures was 47 cents/b (1.18%) lower from the settle on June 3 at $39.32/b, while the NYMEX July light sweet crude contract was 69 cents/b (2.1%) lower at $36.60/b.
OPEC+ had floated the idea of moving forward the meeting to June 4, from its previously scheduled June 9-10, but no announcement has been made so far as compliance discussions continue…

View entirety: S&P Global Platts