OPEC+ studies possible output increase in August: report

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) are discussing a gradual increase in oil output from August, but no decision has been taken on the exact volume yet, Reuters reported, citing two sources familiar with the talks.

"It is highly possible to increase gradually from August," said one of the sources, in line with the oil prices rise.

Earlier this month, OPEC+ agreed to maintain the current production policy – increasing supply by 2.1 million barrels per day (bpd) from May through July.

The group next meets on July 1.

Brent crude crossed the $75-mark for the first time in more than two years, today, June 22.