According to four OPEC+ sources
According to 4 OPEC+ sources:
- OPEC+ is considering options for releasing more oil to the market at next week’s meeting
The price of crude oil has come off on the news and currently trades at $75.04. The high price reached $76.04.
The current deal is to increase production by 400K BPD one meeting next week. The sources did not give details on a volume door which month they would to increase production. However, one source suggested an increase of 800,000 BPD was a possible scenario for one month with zero the next month.
The nearest month the increase could take place is in November as the last agreement set the October volumes.
This article was originally published by Forexlive.com. Read the original article here.