OPEC+ members are considering a significant increase in oil production at their upcoming meeting on June 1, according to a report by Bloomberg on Thursday.
Among the options being discussed is a proposed output hike of 411,000 barrels per day (bpd) for July, though sources emphasized that no final decision has been made yet.
This comes as part of broader internal deliberations within the oil-producing bloc to potentially accelerate supply increases, in response to market demand and global supply dynamics.
OPEC+ could move to restore up to 2.2 million bpd to the market by November, potentially through a fast-tracked production ramp-up starting in July.
The discussions reflect ongoing efforts by the alliance to strike a balance between stabilizing oil prices and responding to pressure from consuming nations for increased supply amid recovering global demand.
