The crucial meeting of the Organization of Petroleum Exporting Countries and their Allies (Opep+) could encourage an increase in oil production. This meeting is scheduled for this Tuesday, June 1, 2021.

OPEC member countries are meeting on Tuesday to decide to continue the increase in oil production that began in early May. The organization, expanded since 2016, decided in early May to reopen the floodgates, forecasting a rebound in demand of around 6 million barrels per day. However, the optimism of Opep+ could oppose Saudi Arabia's caution, which fears renewed tensions on the health crisis front.
Note that the pandemic wave raging in India, the most powerful member of OPEC, could call into question the prospects for recovery. India is the third-largest consumer of oil in the world. In addition, JBC analysts expect a shortage of 3 million barrels per day between July