Source: OPEC + July production increase may exceed 411,000 barrels per day

On May 31st, according to sources familiar with the OPEC + negotiations, OPEC + held a meeting on Saturday to discuss the increase in production in July, which could exceed the 411,000 barrels per day in May and June. Two sources familiar with the OPEC + negotiations and two OPEC + representatives said that the eight member countries holding an online meeting could discuss increasing the increase in production in July to more than 411,000 barrels per day. Other sources said it could also be maintained at 411,000 barrels per day. Some sources said on Friday that Kazakhstan's statement on Thursday that it would not cut production sparked debate among member countries, a factor that could tilt Saturday's discussions towards a larger increase in production.