There are currently no proposals on the table for OPEC to revive limits on crude output at its June meeting after the failure of talks to freeze production last month, according to six delegates from the group, Bloomberg reports.
A meeting of representatives from the Organization of Petroleum Exporting Countries in Vienna Wednesday discussed how the fundamentals of oil supply and demand are improving, according to two delegates, who asked not to be named because the talks were private. The proposal to freeze output has been overtaken by changes in the market and may no longer be necessary, said two delegates from nations that had supported the idea last month.
