Shell Plc is working with advisers to assess a possible takeover of rival BP Plc, Bloomberg News reported. The Anglo-Dutch major is said to be waiting for further declines in BP’s share price and in crude markets before deciding whether to launch a bid. BP’s equity is valued at about £56 billion, meaning any transaction would rank as the largest acquisition ever seen in the petroleum industry. The consolidation talk comes as OPEC and its partners agreed over the weekend to accelerate the restoration of production curbs for a second consecutive month. The 23-nation alliance will add 411,000 barrels a day to supply in June and, according to Reuters, has warned it could unwind the remaining 2.2 million barrels a day of voluntary cuts by October 2025 if members fail to meet their quotas. News of the production increase sent crude prices sharply lower. Brent slid more than 4 percent to below $59 a barrel, while West Texas Intermediate fell to about $56, the weakest levels since 2021. The drop prompted Goldman Sachs and Morgan Stanley to cut forecasts, with Morgan now expecting Brent to average $62.50 in the second half of the year. Energy shares tracked the decline, and Shell stock opened lower in Amsterdam amid the BP merger speculation.