U.S. oil is down 4.8% in May, while global benchmark Brent has fallen 7.2%.
Oil market analysts generally agree that the group will likely keep those cuts in place.David Mcnew | Getty Images
"We see no appetite at this juncture to add more barrels to the market and trigger another price move to the downside," Helima Croft, head of global commodity strategy at RBC Capital Markets, told clients in a note on Wednesday.
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