OPEC+ Provisionally Agrees June Quota Increase, Delegate Says

Major OPEC+ nations came to a provisional agreement on another modest but symbolic increase to supply targets for June, in the group’s first move since the UAE’s surprise exit, a delegate said.

Seven countries led by Saudi Arabia and Russia would — on paper at least — add 188,000 barrels a day next month under the agreement, to be finalized at a video conference on Sunday, the delegate said. They asked not to be identified as the talks are private. Last week, three delegates said such a move was their expectation.