YGRN - Oil traders and inflation watchers eye latest OPEC+ meeting

The latest OPEC+ gathering takes place via videoconference today as pandemic travel continues to prevent the usual meeting spot in Vienna. The group is now holding monthly meetings, giving it more immediate power to make decisions on current oil market conditions, as well as room to maneuver. It's also a signal that OPEC+ producers are weary about how things might play out in the months as they try to balance expectations of a recovery in demand against a possible supply increase  from Iran, the world's fourth largest crude producer.Backdrop: OPEC+ decided in April to return 2.1M barrels per day to the market from May to July, anticipating rising global demand despite surging COVID cases in India. Since the announcement, crude price have risen from $60 toward the $70 level, and are up more than 30% in 2021 alone. Oil futures have still been trading in the tight $60-$70 range for

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Oil traders and inflation watchers eye latest OPEC+ meeting