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UBS: OPEC+ is expected to extend the production reduction agreement for at least 3 months, and oil will rise to $91 in June
OPEC+ will hold its next meeting on June 1, and UBS expects that the organization will agree to extend the voluntary production reduction agreement to maintain the balance of the oil market.
Global Oil Demand Growth Outlook Continues to Soften, IEA Says
The outlook for global oil demand growth this year continues to soften amid an economic slowdown and mild weather in Europe, the International Energy Agency said.