Despite continued uncertainty around the upcoming meetings in Vienna, WTI options data shows a significant probability of OPEC+ maintaining its current production cuts. According to the CME OPEC Watch Tool, a real-time indicator of trader sentiment, there's a 33% probability OPEC will maintain crude oil output cuts and a 66% probability that OPEC and its allies could increase output cuts. Jeff White, Executive Director of Energy Products at CME Group, explains.

More Insights: