Two Sources to Reuters: OPEC+ is Considering a Gradual Increase in Production From August

Two sources with Reuters knowledge of the OPEC + group talks today, Tuesday, said that the group is considering another gradual increase in oil production from August as oil prices rise thanks to the recovery in demand, but it has not yet made a decision on the exact size.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, what is known as OPEC +, are re-pumping 2.1 million barrels per day into the market from May to July as part of a plan to gradually end record oil production cuts that began last year.

OPEC+ meets on July 1.