Exclusive: OPEC, Russia discuss raising oil output by about 1 million barrels per day - sources | Reuters:
"Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil output by around 1 million barrels per day (bpd), easing 17 months of strict supply curbs amid concerns that a price rally has gone too far, sources familiar with the matter said.
Such an increase would bring compliance with agreed supply curbs down to 100 percent from April’s level of around 152 percent, the sources said.
The initial talks are being led by the energy ministers of OPEC kingpin Saudi Arabia and Russia at St. Petersburg this week along with their counterpart from the United Arab Emirates, which holds the OPEC presidency this year, the sources said. "
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