OPEC+'s JMMC recommends to raise oil ouput quotas by 432K BPD from May, as expected

The OPEC+ Joint Ministerial Monitoring Committee, which typically meets ahead of the main OPEC+ meeting of oil ministers, agreed to recommend that the group raise its output quotas by 432,000 barrels per day (BPD) from May, as expected. Focus now shifts to the OPEC+ meeting of oil ministers, which allegedly just begun. Likely, as has been the case in meetings over the last few months, a deal will be struck quickly.