Logo of OPEC
OPEC+ is likely to pause its gradual oil output hikes after September for the rest of this year, sources cited by Bloomberg said, as the producer group continues to assess the impact of the potential trade war between Iran and the US on supply. 
The sources said OPEC+ plans to approve an increase of 188,000 barrels per day (bpd) for September at its virtual meeting scheduled for August 2, with no plans for further increases for the remainder of the year.
One source indicated that these plans remain subject to change depending on market conditions, as the alliance continues to evaluate the impact of the trade war on supply amid disruptions to oil shipments through the Strait of Hormuz.
Logo of OPEC
OPEC+ is likely to pause its gradual oil output hikes after September for the rest of this year, sources cited by Bloomberg said, as the producer group continues to assess the impact of the potential trade war between Iran and the US on supply.
The sources said OPEC+ plans to approve an increase of 188,000 barrels per day (bpd) for September at its virtual meeting scheduled for August 2, with no plans for further increases for the remainder of the year.
One source indicated that these plans remain subject to change depending on market conditions, as the alliance continues to evaluate the impact of the trade war on supply amid disruptions to oil shipments through the Strait of Hormuz.
