The eight countries of the Organization of the Petroleum Exporting Countries (OPEC+) are expected to approve an increase in oil production in September by almost 550,000 barrels per day.
According to The Moscow Times, Reuters reported this with reference to its own sources.
The agency notes that OPEC+ has been reducing oil production for the past few years in order to support the market.
Since the beginning of the year, the cartel has changed course to regain market share. This decision was also influenced by US President Donald Trump, who demanded an increase in production.
Reuters interlocutors told that in September the eight OPEC+ members are likely to increase production by 548,000 barrels or less.
Another source said that discussions on the volumes are still ongoing. Therefore, the exact figures for the increase in production are not yet known.
As the Ukrainian News agency earlier reported, the day before, Reuters wrote that world oil prices were practically unchanged on Friday, August 1, as fears of the impact of US tariffs balanced with the threat of a halt to supplies of "black gold" from russia.
As a reminder, oil prices rose on July 25. It was caused by optimism about trade negotiations between the US and the European Union.
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