On Thursday, the Organization of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, are scheduled to discuss extending the oil production agreement beyond April 2022, according to Reuters, citing two OPEC+ sources.
OPEC’s oil output grew by 740,000 barrels per day to 26.24 million barrels per day in June, according to a Reuters survey.
On this news, crude oil prices rose, and a barrel of West Texas Intermediate (WTI) was last seen trading at $74.05, up 0.8 percent on the day.

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