OPEC+ is likely to agree on another increase in oil output on Aug. 3, Reuters reported, citing unnamed sources familiar with the matter. The group is still discussing the final size of the output hike for September.
Three sources said that eight member countries may boost production by 548,000 barrels per day in September, while a fourth source noted that discussions are still ongoing and the increase may end up being smaller.
The expected move comes after the group reversed its previous course of output cuts earlier this year in a bid to regain market share.
OPEC+ is likely to agree on another increase in oil output on Aug. 3, Reuters reported, citing unnamed sources familiar with the matter. The group is still discussing the final size of the output hike for September.
Three sources said that eight member countries may boost production by 548,000 barrels per day in September, while a fourth source noted that discussions are still ongoing and the increase may end up being smaller.
The expected move comes after the group reversed its previous course of output cuts earlier this year in a bid to regain market share.
