OPEC+ Discussing An Additional Output Cut Of Around 1M Barrels/Day Among Possible Options For The June 4 Meeting
Portfolio Pulse from Happy Mohamed
OPEC+ is considering an additional output cut of around 1 million barrels per day as a possible option for their June 4 meeting, according to Reuters.
June 02, 2023 | 7:26 pm
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The United States Oil Fund (USO) may be impacted by OPEC+'s discussion of an additional output cut of around 1 million barrels per day.
An additional output cut by OPEC+ could lead to a decrease in oil supply, potentially increasing oil prices. As USO is an ETF that tracks the performance of oil, its value may increase if oil prices rise due to the output cut.
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