OPEC+ poised to rollover production cuts and keep oil futures in backwardation

Three Organization of the Petroleum Exporting Countries (OPEC) meetings are to take place on Sunday 2nd June via videoconference. (1) involving OPEC ministers, (2) involving OPEC and its partner countries (jointly OPEC+) and (3) involving the group’s Joint Ministerial Monitoring Committee (JMMC). These are meetings where the member states decide on their next policy move.