Oil Markets React to Russia's Production Decisions and Global Shifts.

Russia prefers OPEC+ to leave oil production unchanged at the upcoming meeting as it is content with current oil prices and production quotas. While OPEC+ surprised the market in April by collectively cutting over 1 million bpd from production, Russia is believed to not have cut output as pledged. Saudi Arabia's Energy Minister has warned traders against shorting oil futures, but Russia's Deputy Prime Minister has hinted that he does not expect any change in policies at the next OPEC+ meeting.