Published by Global Banking & Finance Review®
Posted on April 23, 2025
1 min readLast updated: January 24, 2026
Add as preferred source on GoogleOPEC+ may increase oil output in June after a significant hike in May, amid falling oil prices and internal tensions.
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)
The main topic is OPEC+ considering another increase in oil output for June, following a significant hike in May.
Oil prices fell due to a U.S.-China trade war and OPEC+'s unexpected decision to increase output.
The May 5 meeting is crucial for deciding the oil output plan for June among OPEC+ members.
Explore more articles in the Headlines category
