OPEC’s June 22 meeting promises to be highly consequential to oil markets.

At the last OPEC meeting in November, the group extended the production cut agreement until the end of 2018, but also added language at the insistence of the Russian minister to review the need for an updated agreement at the June meeting.

Now, the Russians are arguing for an increase in oil production. "Russians want to increase production,” Senior Energy Policy analyst Joe McMonigle said recently on The Macro Show. “The Saudis are playing ball but I think their plan is to convince them that any increase should be modest and mostly symbolic. After we get through that I think Oil prices rise."

In the video above, McMonigle explains why the demise of the Iran Nuclear deal coupled with lackluster Venezuelan production could continue to impact oil prices.

**Email sales@hedgeye.com for access to Energy Policy analyst Joe McMonigle's institutional research.


You're Leaving Hedgeye Risk Management...

By selecting this link, you are now leaving the Hedgeye Risk Management (“HRM”) website. The following website contains information concerning investment products managed by Hedgeye Asset Management (“HAM”), an affiliate of HRM, or a firm partnering with HAM, and is subject to HAM’s Privacy Policy. As a separate legal entity, all HAM asset management services are made independently by portfolio managers at HAM and, as such, funds may vary from HRM research.

HRM is not responsible for the accuracy or completeness of information on external websites. HRM does not make any representation regarding the advisability of investing in any investment product or any particular investment advisory. Any opinions or recommendations from linked websites are solely those of our affiliate and are not the opinions or recommendations of HRM.

HRM DOES NOT PROVIDE PERSONALIZED INVESTMENT ADVICE OR ENGAGE IN ANY ASSET MANAGEMENT SERVICE. LASTLY, THIS LINK IS NOT AN OFFER TO BUY OR A SOLICITATION TO SELL ANY SECURITY OR INVESTMENT PRODUCT, OR THE SOLICITATION OF ANY ADVISORY SERVICES.