OPEC+ begins policy debate as capacity constraints loom

OPEC and OPEC+ begin a series of two-day meetings on Wednesday with sources saying chances of a big policy change look unlikely this month.

At its last meeting in early June OPEC+ decided to speed up production cuts and to raise output each month by 648,000 barrels per day (bpd) in July and August, up from earlier increases of 432,000 bpd.

OPEC+ consists of OPEC and allies such as Russia.