Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Headlines

Exclusive-OPEC+ to consider another accelerated oil output increase for June

Published by Global Banking and Finance Review

Posted on April 23, 2025

Featured image for article about Headlines

LONDON (Reuters) -Several OPEC+ members will suggest accelerating oil output hikes in June for a second consecutive month, three sources familiar with the matter told Reuters.

Oil prices fell to a four-year low in April, weakened by a U.S.-China trade war and the unexpected decision by OPEC+, which brings together OPEC and other major producers such as Russia, to increase output by 411,000 barrels per day of oil in May. The figure was three times more than the group originally planned.

Eight OPEC+ countries will meet on May 5 to decide the June output plan.

The three sources, speaking on condition of anonymity, said some members wanted to increase output by a similar volume to that agreed for May, which already stoked tensions between members that are sticking to targets and those that are exceeding them.

The Organization of the Petroleum Exporting Countries and the Saudi Arabian authorities did not immediately respond to Reuters' requests for comment.

(Reporting by Ahmad Ghaddar, Olesya Astakhova, Alex Lawler, Maha El Dahan and Dmitry ZhdannikovEditing by David Goodman and Barbara Lewis)