Is OPEC+ Ready To Open The Taps?

OPEC+ is mulling over a further relaxation in its oil production cut agreement beginning August, Reuters has reported, citing unnamed sources in the know. The discussions are ongoing, the Reuters sources said, focusing on how much oil the cartel will bring back. OPEC+ started relaxing its unprecedented production cuts of 7.7 million bpd at the beginning of this year, gradually adding 2.1 million bpd to the global supply between May and July in response to a faster than expected demand recovery. "It is highly possible to increase gradually from…