OPEC+ will accelerate oil output hikes and could bring back to the market as much as 2.2 million barrels per day by November, five OPEC+ sources said as the group's leader Saudi Arabia seeks to punish some fellow members for producing above quotas.

DUBAI: The Organisation of Petroleum Exporting Countries (Opec) has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group says,

Oil prices sank Sunday while U.S. stock futures declined after the S&P 500 notched its longest winning streak in more than 20 years last week.