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UCO - OPEC+ To Consider Market Fundamentals Not Prices
ProShares Ultra Bloomberg Crude Oil
It was agreed at the 10th extraordinary OPEC and non-OPEC ministerial meeting on April 12 that another gathering would be held in early June via videoconference. The purpose of that meeting will be to determine what further action is needed to balance the market.
It follows a relatively successful month for OPEC+, after it steered through the largest output cut in history - equating to almost 10 percent of global supplies - which aimed to balance the market over the medium term rather than seeking a short term fix.