Reported about 14 hours ago
OPEC+ has reached a preliminary agreement to raise oil production by approximately 137,000 barrels per day in October, signaling a shift towards prioritizing market share over price defense. This decision comes after the group has already restored 2.2 million barrels of halted output sooner than anticipated, despite warnings of a potential supply surplus. The increase is expected to bring back cuts made previously as OPEC+ navigates the complexities of the global oil market.
Source: YAHOO