OPEC+ Likely to Proceed With Planned Output Hike From October - Reuters
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(Updated - August 30, 2024 9:02 AM EDT)
OPEC+ Likely to Proceed With Planned Output Hike From October - Reuters
- Eight OPEC+ members are scheduled to boost output by 180,000 barrels per day in October.
- The move is part of a plan to begin unwinding their most recent layer of output cuts of 2.2 million bpd while keeping other cuts in place until end-2025.
- Six OPEC+ said the plan to increase production remains in place as the loss of Libyan output tightens the market.
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