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February 06
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Saudi Arabia and other OPEC oil producers are discussing the increase in production, the Wall Street Journal reported, citing unnamed delegates within the group.

The increase in production of up to 500,000 bpd is being discussed at the OPEC+ meeting on December 4.

The talks about increasing production came after U.S. President Joe Biden's administration told a federal court judge that Saudi Crown Prince Mohammed bin Salman should have sovereign immunity from a U.S. federal lawsuit related to the murder of Saudi journalist Jamal Khashoggi.

The immunity decision amounts to a concession to Prince Mohammed after the Biden administration tried for months to isolate him, the Wall Street Journal reported.

Last month, OPEC unexpectedly decided to drastically reduce its production targets.

Over the past two weeks, oil prices have fallen below $84 a barrel.

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