Ramping up production when demand is still weak could have major consequences on a relatively stable oil market.
Demand for oil has come back a bit, but it's still lower than it was before the pandemic.
A historic plunge in demand during the global pandemic has pushed U.S. average gasoline prices to $1.91 a gallon.
Companies are using less oil to make and ship things. As consumers curtail travel, they use less oil, too.
There was talk that OPEC and Russia might together cut the world's supply of oil by one million barrels a day.