Russia Holds Oil Steady Into Tight Markets, No New OPEC+ Plans

Russia confirms ongoing crude exports to stabilize prices but offers no fresh proposals ahead of the May 3 OPEC+ meeting, leaving traders to bet on tighter fundamentals. This echoes earlier Kremlin remarks amid rising demand and shrinking supply, with OPEC+'s 206,000 barrels-per-day May quota hike deemed symbolic due to production limits from the U.S.-Israeli war with Iran. The IEA's warning of a record energy crisis amplifies upside risks for oil prices and volatility into the summit. Comments highlight persistent supply pressures and inflation threats.