By Ahmad Ghaddar, Olesya Astakhova and Alex Lawler

(Reuters) – OPEC+ is considering going beyond its existing deal to boost production by 400,000 barrels per day (bpd) when it meets next week, sources said, against a backdrop of oil near a three-year high and pressure from consumers for more supply.

The Organization of the Petroleum Exporting Countries and anallies led by Russia (OPEC+) agreed in July that it would boost production by 400,000 barrels per month and phase out cuts of 5.8millionbpd. The Organization of the Petroleum Exporting Countries and Allies, known as OPEC+, meets Monday to discuss its output policies.

Four OPEC+ sources stated that adding oil to the market was being considered, although they did not give details about volumes and which month. One OPEC+ source stated that an 800,000. bpd rise for one month is possible. Zero would be the next month.

A November increase is possible since OPEC+ has decided to suspend the October volume volumes.

Sources from OPEC+ said that they cannot rule out any alternative. Another source said that there were “one or more possible outcomes” for the possibility that the market may need oil beyond what was planned in the current deal.

Sources indicated to Reuters that the likely outcome would be the group sticking with the current plan.

The reason for the shift in tone was not immediately known. However, it comes following a meeting by the OPEC+ Joint Technical Committee. This JTC reviewed the market outlook and reduced an anticipated supply surplus of 2022.

The virtual OPEC+ meeting will take place on October 4. Talks are ongoing among members, but there’s no guarantee that an additional rise will be reached.

On Tuesday, prices rose above $80 per barrel for the third time in three months. This was due to unexpected outages in the UnitedStates on Tuesday and strong demand recovery following the pandemichammering. The price of oil was trading at $79 per barrel on Thursday.

On Tuesday, the White House raised concern about high oil prices in August. It said that it was in dialogue with OPEC, and looking at ways to reduce its dependence on crude oil.

India, third biggest oil importer and largest consumer in the world, indicated on Tuesday that it believed a rise in crude oil prices would accelerate its transition to renewable energy.

The United Arab Emirates, Nigeria, Iraq and Nigeria are the OPEC countries’ energy ministers. They said that in the last weeks they didn’t see any need to make extraordinary changes to the agreement.