POWELL: WE ARE IN RANGE OF REASONABLE NEUTRAL RATE

ALPHABET 1Q REV. EX-TAC $94.67B, EST. $91.57B

Seven OPEC+ members are expected to agree a June oil output increase at a Sunday meeting, adjusting quotas after the United Arab Emirates exited the group. Sources told Reuters the planned hike will be slightly reduced to exclude the UAE’s share, previously about 18,000 bpd. However, actual production gains may be limited as several members face supply disruptions linked to the closure of the Strait of Hormuz amid the US-Israel conflict with Iran.