Talk of a proposal for OPEC+ to ease production cuts gradually by 400k bpd per month from Aug to Dec 0 (0)

The proposal is for a 2 million bpd easing of output cuts in Q3 and Q4
This being tweeted by renowned oil market journalist, Amena Bakr:
There is a proposal on the table that will be further discussed to ease 2 million bpd between august and December – sources

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Saudi Arabia, Russia reportedly reach preliminary deal on raising oil output 0 (0)

Reuters reports on the matter
This pertains to the OPEC+ meeting later in the day and it is no surprise to see deals/accords struck prior to the meeting itself. A 500k bpd overall increase is the baseline figure to expect so we’ll see if there are any other details in the hours ahead.

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