OPEC+ discussing a production increase of 400K barrels per day

OPEC+ reportedly discussing a June production increase of approximately 400,000 barrels per day (BPD) according to Bloomberg delegates.

• The group has moved its meeting forward to May 3 (originally May 5) to discuss June output plans, per Reuters.

• Market expectations suggest OPEC+ will continue adding supply in June, with a consensus forming around a 411k BPD increase.

• The planned increase maintains the accelerated pace of additions, according to Amena Bakr.

This article was written by Greg Michalowski at www.forexlive.com.