OPEC+ to raise oil output by 188,000 barrels daily in September
OPEC+ members have agreed to boost oil output by 188,000 barrels per day in September, keeping the recent pace of production hikes.
OPEC+ members have agreed to increase their combined daily crude oil production by 188,000 barrels in September, maintaining the pace of monthly output hikes observed in recent months.
Following their meeting, the alliance of major oil-producing countries confirmed the quota adjustment but did not provide details regarding its production strategy for the final quarter of the year. Market analysts had previously speculated about a potential pause in output increases due to shifting global demand, but the official statement omitted any reference to halting future production gains.
Further decisions regarding output policy beyond September are expected in upcoming alliance discussions.
Sources: Tanjug.