A group of countries that are part of the oil cartel OPEC+ have agreed to boost oil production, which some believe could lower oil and gasoline prices.

OPEC+ members have agreed to a second consecutive production increase this year, effectively ending voluntary cuts on production.

Over the weekend, OPEC finalized the return of 2.2 million barrels per day (bpd) to the global market, although delegates emphasized that anything is possible in the near-term, including pauses or even a full reversal.