OPEC Signals Lasting OPEC+ Alliance in Oil Market Management

OPEC is preparing to replace the ‘call on OPEC’ forecast of global demand for the cartel’s crude oil with ‘call on OPEC+ crude’ in its closely-watched monthly oil market report, signaling that it remains committed to the broader OPEC+ alliance to manage supply to the market.   The change in forecasts of the amount of crude OPEC needs to produce for a balanced supply-demand picture on the market is expected to be published in the Monthly Oil Market Report (MOMR) for May, scheduled to be released on May 14, sources…