Source: Don’t Expect Any Oil Supply Surprises From The Sunday OPEC+ Meeting

The fact that OPEC+ has decided to meet virtually this Sunday suggests surprises with regard to oil supply policy are unlikely, Reuters reported today, citing an unnamed source close to the group. "OPEC+ would rather sit on the bench at this time and assess the outcome of what happens on Monday," the source said, referring to EU discussions of the G7-proposed price cap for Russian oil exports. The EU first tried to reach an agreement on the cap on Monday but failed as Poland and two Baltic states—Lithuania and Estonia—insisted that…