Two big producers just called a bottom for oil – US$60 a barrel

The Organisation of the Petroleum Exporting Countries is heading into a contentious meeting tomorrow, with Iran promising to block any decision to increase output.

DUBAI: Italy’s top oil producer and Oman’s energy minister predict the latest oil rebound will stick.

Prices are up more than 20% since hitting an almost two-year low in December, enough to alter Opec+ rhetoric from reassuring investors that it will cut output to taking credit for the rebound, and in the case of Oman, forecasting where oil will trade for the year.