OPEC+ agreed to stick to the existing pace of gradually easing oil supply curbs, two OPEC+ sources said, as producers balanced expectations of a recovery in demand against a possible increase in Iranian supply

Oil prices rose 1%, bolstered by strong U.S. economic data that offset investors’ concerns about the potential for a rise in Iranian supplies

OPEC+ is likely to stick to the existing pace of gradually easing oil supply curbs at a meeting on June 1, as producers balance expectations of a recovery in demand against a possible increase in Iranian supply

The global oil deficit is now seen at about 1 million barrels per day, Russia’s deputy prime minister Alexander Novak said, days before the OPEC+ top negotiators are to meet

Goldman Sachs said it expects oil prices to climb to $80 per barrel in the fourth quarter of this year, arguing that the market has underestimated a rebound in demand even with a possible resumption in Iranian supply

Shipments from Saudi Arabia were 6.47 million tonnes last month, or 1.57 million barrels per day (bpd), hitting their lowest since October, data from the General Administration of Chinese Customs showed

Russian Deputy Prime Minister Alexander Novak said there was an oil deficit on the global market even though some countries were recording a growing number of COVID-19 cases

Oil production in Brazil rose 4.6% in April from March, figures from the ANP national oil regulator showed, the second monthly rise in a row, led by rising output from Petrobras and Royal Dutch Shell

Russian Deputy Prime Minister Alexander Novak said in an interview published on Monday that the oil prices of $62-$66 per barrel reflect the current market

“The pathway to net zero is narrow but still achievable. If we want to reach net zero by 2050 we do not need any more investments in new oil, gas and coal projects,” Fatih Birol, the IEA’s executive director