OPEC watching Iran, Russia, unlikely to cut output in June

Reuters reports OPEC is very unlikely to decide to cut oil production when it next meets in June. Even though Saudi Arabia agreed with Russia to a freeze in production, Riyadh distrusts Moscow and would not expect Russia to comply with an output cut agreement. Saudi Arabia also plans to spend several months monitoring Iranian oil output to determine how much Tehran will be producing now that international sanctions have been lifted.


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