OPEC Not Planning to Hike Output at June Meet: Chief

OPEC president Sheikh Ahmad al-Fahd al-Sabah said on Sunday the oil producers’ cartel does not intend to hike its production levels at its meeting next month since markets are oversupplied.

“We can’t increase production now,” Sheikh Ahmad told reporters at an industry function in southern Kuwait, when asked if OPEC will decide an output hike at its June 15 meeting in Vienna.
HindustanTimes.com