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Last weekend OPEC, Russia, and other oil producers met in Saudi Arabia to discuss the current supply of the oil market. Major oil producers did not make a decision about current production cuts and decided to leave the decision to their upcoming meeting in June. The Saudi Energy Minister Khalid Al-Falih said oil producers agreed to gradually lower oil inventories to normal levels.

OPEC+ Group Meets in Saudi Arabia

Last weekend OPEC, Russia, and other oil producers met in Saudi Arabia to discuss the current supply of the oil market. Major oil producers did not make a decision about current production cuts and decided to leave the decision to their upcoming meeting in June.

The Saudi Energy Minister Khalid Al-Falih said oil producers agreed to gradually lower oil inventories to normal levels.

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