OPEC+ to stick to current plan to ease oil output cuts from May 1 – Reuters

OPEC+ will stick to its current plan to ease the oil output cuts from the beginning of May, Reuters reported on Tuesday, citing sources familiar with the matter.

"OPEC+ ministers will hold next meeting in early June to adjust existing output deal if required," Reuters further noted. "Russia tells OPEC+ ministers in meeting that preference is to keep output plans along existing lines."

Market reaction

This headline doesn't seem to be having a significant impact on crude oil prices. As of writing, the barrel of West Texas Intermediate was up 0.7% on the day at $62.40.