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'Pretty Clear' OPEC Will Increase Output, BofA Merrill's Blanch Says

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News video: 'Pretty Clear' OPEC Will Increase Output, BofA Merrill's Blanch Says

Jun.14 -- Saudi Arabia is more confident than ever that it can deliver the OPEC production increase that oil consumers have been demanding.

It’s “inevitable” the cartel and its allies will decide to boost output gradually when they meet in Vienna, Saudi Oil Minister Khalid Al-Falih said on Thursday.

Talks with his Russian counterpart in Moscow, as the two nations played in the soccer World Cup, resulted in an understanding on the need for a smooth increase, while leaving significant challenges still to overcome.

Francisco Blanch, head of commodities research at Bank of America Merrill Lynch, talks with Bloomberg's Alix Steel about Saudi Arabia-Russia, OPEC and oil prices..

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