Oil Falls, Dragged by Fears of Rising Supply
0009 GMT — Oil falls in the early Asian session, dragged by fears of rising supply. Bloomberg reported that OPEC+ is mulling a possible increase in output of 411,000 barrels a day in July, ANZ Research analysts say in a research report. This would be third consecutive month that the group has agreed to triple the initially scheduled amount, the analysts say. No final agreement has been reached yet, with this option being one of many being discussed, the analysts add, citing the media report. Front-month WTI crude oil futures are 0.6% lower at $60.83/bbl; front-month Brent crude oil futures are 0.5% lower at $64.09/bbl. (ronnie.harui@wsj.com)
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