Now that oil producers have cleared surplus, will crude oil supply cut end?

Russia and Saudi are said to have agreed to raise production, but other OPEC and non-OPEC countries might not

OPEC and allied oil producers including Russia concluded that the crude market re-balanced in April, when their output cuts achieved a key goal of eliminating the global surplus.

The excess in oil inventories, which has weighed on prices for three years, plunged in April to less than the five-year average for stockpiles in developed nations, according to people with knowledge of the data assessed at the meeting of the Joint Technical Committee of OPEC and other producers last week in Jeddah, Saudi Arabia.

The re-balance is sure to be the focus of a tense meeting between OPEC and its partners in the