OPEC+ considers options for releasing more oil to the market -sources | Reuters
OPEC+ is considering going beyond its existing deal to boost production by 400,000 barrels per day (bpd) when it meets next week, sources said, against a backdrop of oil near a three-year high and pressure from consumers for more supply.
The Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, agreed in July to boost output by 400,000 bpd a month to phase out 5.8 million bpd in cuts. It meets on Monday to review its output policy.
Four OPEC+ sources said adding more oil was being looked at as a scenario, but none gave details on volumes or which month. Another OPEC+ source suggested an increase of 800,000 bpd for one month was a possible scenario, with zero the next month.
The nearest month any increase could occur is November since OPEC+'s last meeting decided the October volumes. read more
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