OPEC+ will hold their June 2 meeting online rather than in person – a day later than originally planned.

• There has been no official reason for the delay but speculation that Saudi King Salman Bin Abdulaziz’s health issues and the death of Iran President Ebrahim Raisi may have contributed.
• Moving the meeting online is “the clearest indication of a rollover” of existing quotas, according to Kpler’s Viktor Katona.
• Previous extensions of the current voluntary output curbs, implemented by eight members of the group, were announced in separate statements by the countries themselves rather than by OPEC+.