Logo ofOPEC
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) is reportedly considering pausing oil production increases following the upcoming additional monthly hike, Bloomberg reported, citing delegates familiar with the matter. 
Earlier, sources told Reuters that the alliance is expected to approve a significant oil production increase for September during its meeting scheduled for early August, aiming to phase out voluntary cuts.
The sources added that OPEC+ may approve another output increase of around 550,000 barrels per day for September.
Logo ofOPEC
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) is reportedly considering pausing oil production increases following the upcoming additional monthly hike, Bloomberg reported, citing delegates familiar with the matter.
Earlier, sources told Reuters that the alliance is expected to approve a significant oil production increase for September during its meeting scheduled for early August, aiming to phase out voluntary cuts.
The sources added that OPEC+ may approve another output increase of around 550,000 barrels per day for September.
