OPEC+ is considering increasing production in the second half of 2019, as the oil market tightens following a series of major outages. OPEC+ met in Jeddah over the weekend to assess the state of the oil market and discuss the group’s plans for the rest of the year. The technical meeting comes ahead of the highly-anticipated June meeting in Vienna, where the coalition is expected to finalize its plans. In Jeddah, however, OPEC and its partners examined a few scenarios. Saudi Arabia and others within OPEC reportedly want to keep the cuts in place while Russia is more eager to loosen the curtailments. According to Reuters , Saudi Arabia and Russia are mulling two options, both of which consist of higher output. The first option would consist of reducing the agreed upon cuts of 1.2 million barrels per day (mb/d) to just 0.9 mb/d going forward. The second option […]