OPEC+ Discussing 1 Million Bpd Output Cut

Oil prices were trading up on Friday afternoon as shorters got a little nervous heading into the OPEC+ weekend, with new rumors circulating about the group’s discussions about another 1 million bpd in production cuts. The OPEC+ group is scheduled for three separate meetings beginning this weekend and concluding on June 4. While the general sentiment has been that the group will keep the status quo as far as production targets are concerned. But Saudi Arabia’s Energy Minister has made boistrous threats against oil’s speculators…