OPEC+ to consider another accelerated oil output increase for June, sources say

News Snapshot:

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...