OPEC+ Poised to Extend Production Cuts Amid Shifting Demand Dynamics

Rising oil demand in India and the summer season could influence the coalition's decision as China shows signs of weakening imports.

OPEC+ is expected to extend its 2.2 million barrels per day production cuts into the third quarter.
India's oil imports surged by 15% in May, hitting a record high of 5.26 million barrels per day.
China's oil imports decreased by 2% in May, marking the lowest level since January.
The extension of production cuts aims to stabilize prices amid fluctuating global demand.
OPEC+ faces internal challenges, including compliance with quotas and maintaining market share.