BREAKING: Oil drops as OPEC+ meeting in doubt

11:11 AM 3 June 2020

Bloomberg reported that OPEC+ meeting is in doubt as Saudi Arabia and Russia are unhappy with some parties cheating on oil quotas/compliance with current deal. It was rumoured that next week's meeting may be brought forward to Thursday this week but now it is uncertain whether the meeting will be held at all, either this week or the next. Oil dropped on the news with WTI pulling back from $37.50 to around $36.50. Stock indices also moved lower on the news.

OIL.WTI dropped around $1 on Bloomberg report release. Source: xStation5

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