OPEC+ meeting still possible this week if members pledge to improve the compliance – Reuters

The OPEC and its allies (OPEC+) meeting is still possible this week if Iraq and other countries that are not complying, pledge to improve the compliance, Reuters reported on Thursday, citing some OPEC sources with knowledge of the matter.

Earlier today, Russian Energy Minister Alexander Novak said that the July oil market deficit may be 3-5 million barrel per day (bpd).

Meanwhile, both crude benchmarks nurse losses, down over 1% so far. WTI trims losses to regain 36.50 while Brent climbs back above 39.00