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Focus Shifts to OPEC’s Meeting on June 22

Gordon Kristopher
Focus Shifts to OPEC’s Meeting on June 22

On June 11, Iraq’s oil minister said that ongoing supply cuts should continue in order to support crude oil prices. He also added that oil producers are overreacting to increased oil production due to the possibility of new sanctions on Iran and Venezuela. There’s uncertainty about whether or not OPEC will increase the production at the upcoming meeting.