Gulf OPEC members not planning additional voluntary oil cuts beyond June -sources - Reuters

Gulf OPEC members not planning additional voluntary oil cuts beyond June -sources - Reuters:

Gulf OPEC producers Saudi Arabia, Kuwait and the United Arab Emirates have no plans to extend beyond June their voluntary additional oil cuts of 1.18 million barrels per day (bpd), two sources said on Wednesday.

OPEC+, agreed to reduce output by about 9.7 million bpd in May and June to help shore up prices as coronavirus-related lockdowns crippled demand.

In addition, Saudi Arabia, Kuwait and the UAE pledged to cut by an extra 1.18 million bpd in June. 


“There are not discussions about extending those deeper cuts now,” one source said.