Exxon, Chevron reverse course, OPEC+ to consider another accelerated oil output increase

U.S. energy majors Exxon Mobil XOM.N and Chevron CVX.N reverse early gains, each down ~1%

Several OPEC+ members will suggest that the group accelerates oil output increases for a second consecutive month in June, sources familiar with OPEC+ talks told Reuters

The decision comes against a backdrop of a dispute between members over compliance with production quotas

Brent crude futures LCOc1 down 2.45% at $65.79/bbl, while U.S. West Texas Intermediate crude CLc1 declines 2.67% to $61.97 O/R