Waiting on OPEC

摘要

Having dipped below $100/barrel in April and again May 1 to $98.41/b, international crude marker Dated Brent gyrated in a band between $100/b and $105.50/b for the rest of May ahead of an OPEC meeting May 31. Despite softer prices in April, OPEC production for the month, reported in May, saw the organization's output rise for the first time in nearly a year, moving up from 30.25 million b/d to 30.50 million b/d. The biggest changes were an increase in Iraqi production of 150,000 b/d and a rise in Saudi Arabian output of 100,000 b/d.