Oil prices turned lower today, May 22, as markets assessed reports that OPEC+ members were discussing the possibility of agreeing to another significa

Bloomberg states, “OPEC+ members are discussing making a third consecutive oil production surge in July, to be decided at the group’s meeting in just over a week, delegates said.” Speculation is that this may be to “regain market share.

Oil prices fell on Thursday after a report that OPEC+ is discussing a production increase for July, stoking concerns that global supply could exceed demand growth. Brent futures fell 57 cents, or 0.88%,