New Delhi, Oct. 5 -- The global oil market may see increased crude availability, with the Organization of the Petroleum Exporting Countries (OPEC) and its allies likely to raise production targets for the coming months at a meeting on Sunday.

Mint explains the impact of the increase in oil supplies on the global oil market and the third largest global crude oil importer-India.

A further increase by OPEC+ countries, as the larger group of oil producers is called, supplies will help ease prices. The International Energy Agency (IEA) has projected an increase in global oil production by 2.7 million barrels per day (bpd) to 105.8 million bpd this year, and by 2.1 million bpd to 107.9 million bpd in 2026.

The meeting is aimed to reach a con...