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OPEC members decided to cancel their meeting planned for April, leaving the current production cuts in place until the group’s usual meeting in June. Saudi Energy Minister Khalid Al-Falih said OPEC expects the oil market to remain oversupplied until June, and the delay will allow the group to assess U.S. sanctions’ impacts on Iran and Venezuela oil production.

OPEC Cancels April Meeting

OPEC members decided to cancel their meeting planned for April, leaving the current production cuts in place until the group’s usual meeting in June.

Saudi Energy Minister Khalid Al-Falih said OPEC expects the oil market to remain oversupplied until June, and the delay will allow the group to assess U.S. sanctions’ impacts on Iran and Venezuela oil production.

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