Kazakh Energy Minister: OPEC+ might have to raise oil output so market doesn't overheat

Ahead of the OPEC and its allies (OPEC+) meeting on Wednesday, Kazakhstan Energy Minister Bolat Akchulakov said the alliance might have to raise oil production to avoid market overheating.

Akchulakov said, "we have always said that the preferred price corridor is $60-80 per barrel. Today the price is $100. So we might have to raise output to avoid overheating.”