OPEC+ may discuss oil output hike larger than 411,000 bpd for July, sources say – Middle East Monitor

OPEC+ is considering a potential increase in oil output for July, possibly exceeding the 411,000 barrels per day (bpd) hikes made for May and June. Eight member countries have been increasing their production faster than planned, influenced by Kazakhstan’s refusal to cut output, which may lead to discussions for a larger increase. Despite recent price fluctuations, OPEC+ aims to balance the market while managing rising demand, as it has gradually increased production since April to recover from deep cuts made since 2022.

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