OPEC+ Discusses Output Hike in Preparation for Next Meeting
- Russia is weighing making proposal to further boost production
- Group hasn’t discussed specific volumes before July 1 meeting
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OPEC+ is discussing whether to further boost production at next week’s meeting as the oil market looks increasingly tight.
Moscow is considering making a proposal that the group should ease a global supply deficit by increasing output, according to Russian officials familiar with the matter. Other OPEC+ nations are also discussing a potential supply hike in August, although specific numbers haven’t been mentioned, said a delegate.