OPEC+ discusses making another large output hike in July, Bloomberg News reports

OPEC+ members are discussing whether to agree on another large production increase at their meeting on June 1, Bloomberg News reported on Thursday. An output hike of 411,000 barrels a day (bpd) for July is among the options under discussion, although no final agreement has yet been reached, the report said, citing delegates. Reuters has previously reported that OPEC+ will accelerate oil hikes and could bring back as much as 2.2 million bpd to the market by November, including via an accelerated increase in July.

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