Steve Richardson, Evercore ISI energy analyst, joins "Squawk on the Street" to discuss the rising prices in energy as OPEC looks to boost supply.
CNBC's Brian Sullivan reports on the latest OPEC+ developments as WTI crude oil hits its highest level since 2018.
OPEC and its non-OPEC partners will meet via videoconference to discuss the next phase of production policy.
OPEC on Tuesday stuck to its prediction of a strong recovery in world oil demand in 2021 as growth in China and the U.S. counters the Covid-19 crisis in India.
Edward Bell from Emirates NBD says the oil market looks like it will be undersupplied by quite a large amount in the second half of the year.
OPEC+ has cut output by around 8 million barrels per day — or over 8% of global demand — including a 1 million bpd voluntary cut by Saudi Arabia.
OPEC on Tuesday raised its forecast for growth in world oil demand this year on expectations the pandemic will subside.
The ongoing coronavirus crisis continues to cloud the outlook, and analysts expect this to reaffirm Saudi Arabia's caution about the global economic recovery.
Neil Beveridge, senior oil and gas analyst of Bernstein, explains that oil supply and demand will look to be more balanced in second quarter of 2021, but cautions that tightness in the market will reappear in the third quarter.
Kevin Wright of Kpler discusses the recent rise in Iran's oil exports despite U.S. sanctions and what to expect at the next OPEC+ meeting.
Herman Wang from S&P Global Platts discusses Saudi Aramco's upcoming earnings release and what it could mean for oil markets.
Oil prices are unlikely to mount a dramatic and sustained surge despite vaccines expected to boost demand later this year, the IEA said.
"Total oil demand is foreseen to reach 96.3 million bpd with most consumption appearing in the second half," OPEC said in the report.
Damien Courvalin of Goldman Sachs explains the bank's upgrade to its oil price target, and why demand for travel lies behind their bullish view.
JTD Energy Services' John Driscoll discusses whether oil at $70 a barrel is sustainable and what OPEC's exit strategy looks like.
Peter Shao from Guotai Junan International explains why Saudi Arabia's latest OPEC move is surprising.
Oil markets are "divergent" from the message by key oil players, says Rapidan Energy Group's Bob McNally.
Neil Beveridge of Bernstein says there are "very optimistic signs" for oil demand given the vaccine rollout, but the pick up is likely to happen from the third quarter onwards.
Oil prices jumped on Thursday after OPEC and its oil-producing allies said the group would keep production largely steady through April.
Dan Yergin, vice chairman of IHS Markit, says shale oil producers are consolidating and becoming more confident, but will not rush to increase production. He also weighs in on OPEC+ discussions and says it would be concerning for the market if OPEC increases supply by over 500,000 barrels per day.
