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OPEC+ OIL OUTPUT INCREASE
OPEC+ is weighing a potential oil production increase exceeding the previously planned 411,000 barrels per day for July, as it seeks to reclaim lost market share, according to sources familiar with the discussions.
OPEC+ is set to accelerate its oil production increases and could return up to 2.2 million barrels per day (bpd) to the market by November if erring members fail to comply with output quotas, Reuters reports.