Hi, I red below detail on the article . "Most babies are satisfied with 3 to 4 ounces (90–120 mL) per feeding during the first month and increase that amount by 1 ounce (30 mL) per month until they reach a maximum of about 7 to 8 ounces (210–240 mL). If your baby consistently seems to want more or less than this, discuss it with your pediatrician"
Yup u can try to increase. Ensure tt he/she does not spit up too much as it cld mean baby is gassy or has reflux. My baby too was always hungry and he was taking 4 oz of formula frm 2nd-3rd wk and 5 oz by the 4th wk. But I only gave him formula 2x a day cz the rest BM.