Eight OPEC+ countries may raise oil output, with Saudi Arabia pushing for a significant increase and Russia suggesting a more modest rise. Saudi Arabia wants to see output raised by 274,000 bpd or more to regain market share, while Russia prefers a smaller increase to avoid price pressure and sanctions constraints. OPEC+ had previously cut output by 5.85 million bpd but is now considering raising quotas by 140,000 bpd. Oil prices have dropped over 7% due to the prospect of increased supply, with Brent crude trading above $64 a barrel. The decision will be made at an online meeting on Sunday.

Read more at Yahoo Finance: OPEC+ set for another oil hike as Saudi and Russia debate size, sources say