Market Chatter: OPEC+ Nations Expected to Increase July Output

MT Newswires Live05-21 22:49

The seven leading OPEC+ oil-producing countries are expected to agree to a modest increase to July output when they convene on June 7, Reuters reported Thursday, citing four sources.

The monthly target is expected to be raised by roughly 188,000 barrels per day, though delivery for several of the nations remains disrupted by the war in Iran, the report said, citing the sources.

OPEC+ didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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