Bloomberg: “OPEC+” members are looking to adopt a significant increase in oil production

It is expected that the members of the “OPEC+” coalition will discuss a third and large increase in oil production during the next July, during a meeting about a week, according to Bloomberg.

The expected increase is expected to reach 411 thousand barrels per day as one of the options, i.e. 3 times the amount that was scheduled at the beginning.

A final agreement has not yet been reached in this regard. A final decision is scheduled to be taken at a meeting that will be held on the first of next June, according to what “Bloomberg” quoted two delegates, and crude prices fell after reports of discussing the approval of this great increase.

By 04:30 GMT, the price of the global measuring crude, Brent mix, decreased 1.56% in futures delivery, July delivery to $ 63.92 a barrel.

US West Texas Intermediate crude futures declined 1.56% to $ 60.64 a barrel.