Pakistan, May 27 -- Despite oil trading low at $60, the Organization of the Petroleum Exporting Countries and their allies - collectively known as OPEC+ - is expected this week to continue to further open the taps, a development that analysts believe is "broadly positive" for Pakistan's macroeconomic outlook and the equity market.

In past months, Saudi Arabia, Russia and six other OPEC+ members have surprised markets by announcing a sharp increase in oil production for May and June despite the low prices.

This week the cartel will hold two meetings, one online on Wednesday with all OPEC+ members to discuss the group's common strategy, and one on Sunday with just the eight member states, known as the "V8," that have made the largest cuts...