OPEC said to discuss oil output hike of 300k to 600k bpd - Bloomberg

Bloomberg reports the latest headlines citing that the Organization of the Petroleum Exporting Countries’ (OPEC) is said to discuss an oil output hike of 300k to 600k barrels per day (bpd).

Further headlines:

OPEC members said to seek a compromise to overcome Iran dissent.

Saudi Arabia and Russia said to work on making oil alliance permanent.

Platts reported last hour that the OPEC Economic Commission Board, including the national representatives, is currently meeting in Vienna.

Meanwhile, WTI has reversed today’s drop and regained $ 64.50 mark on the above headlines. Last month, it was reported that the OPEC and Russia are said to boost output by 1 million bpd at the June meeting.