Reported 1 day ago
OPEC+ is expected to increase oil production further starting in October, but at a slower rate than in recent months due to a potential slowdown in global demand as driving season ends. Having already lifted output by about 2.5 million barrels per day, OPEC+ aims to unwind previous cuts, planning to raise production by at least 135,000 bpd in October, with some estimates suggesting increases could range from 200,000 to 350,000 bpd. Despite this, current oil prices remain stable around $66 a barrel, influenced by geopolitical factors and member countries nearing their production capacities.
Source: YAHOO