OPEC+ likely to stick to current supply plan: report

OPEC+ is likely to stick to the current pace of gradually easing oil supply curbs at a meeting on Tuesday, Reuters reported, citing three sources.

The Organization of the Petroleum Exporting Countries and allies (OPEC+) decided in April to return 2.1 million barrels per day (bpd) of supply to the market from May to July.

The sources do not expect OPEC+ to decide on output policy beyond July, since the outlook for Iranian supply is not clear.

Another OPEC meeting is planned for June 24, the report added.

OPEC+ experts confirmed earlier forecasts for a sizeable, 6 million bpd jump in oil demand in 2021, as the world recovers from the COVID-19 pandemic.