OPEC+ may discuss an increase in oil output for July at its meeting on Saturday larger than the 411,000 barrels per day (bpd) increases it made for May and June, Reuters reported, citing sources familiar with OPEC+ talks.
Kazakhstan’sstatementon Thursday that it won’t cut production sparked debate in OPEC+, some of the sources said on Friday, with one saying that this factor may tilt discussions towards a larger output hike on Saturday.
Kazakhstan has been pumping hundreds of thousands of barrels over its OPEC+ target for months, a factor that has angered other OPEC+ members and helped sway a decision by the group to proceed with plans to hike output in April, sources said at the time.
OPEC+ may discuss an increase in oil output for July at its meeting on Saturday larger than the 411,000 barrels per day (bpd) increases it made for May and June, Reuters reported, citing sources familiar with OPEC+ talks.
Kazakhstan’sstatementon Thursday that it won’t cut production sparked debate in OPEC+, some of the sources said on Friday, with one saying that this factor may tilt discussions towards a larger output hike on Saturday.
Kazakhstan has been pumping hundreds of thousands of barrels over its OPEC+ target for months, a factor that has angered other OPEC+ members and helped sway a decision by the group to proceed with plans to hike output in April, sources said at the time.
