Institutional analysis: OPEC+ proposes a new round of production cuts in June

On May 24th, both oil prices in the United States and Burundi rose by more than 2% on Tuesday, after reports that Saudi Energy Minister Abdul Aziz warned investors who bet on falling oil prices at a meeting in Qatar “careful”. “When I see the Saudi energy minister warning people who are shorting Brent, I think some people will listen,” said Ira Epstein, director of the Ira Epstein division at brokerage Linn GroupUP. The market outlook is tightening, though more likely due to warnings from the Saudi energy minister … don’t be surprised if another round of production cuts is proposed at the OPEC+ meeting on June 4.”