OPEC+ is likely to consider a further oil output quota hike at its Sunday meeting to prepare for any easing of Hormuz export constraints, Reuters reports citing sources

OPEC+ is contemplating an increase in oil output quotas, likely responding to potential easing of export constraints through the Strait of Hormuz. This move could indicate a shift in supply dynamics, aiming to stabilize or possibly reduce prices in the context of upcoming global demand shifts. Traders should consider how this may influence WTI prices and broader commodity markets as the meeting unfolds.