OPEC+ has agreed in principle to increase production again next month, according to delegates, as the group doubles down on its policy shift to pursue market share instead of defending prices.
Key alliance members said they expect to approve adding about 137,000 barrels during a video call on Sunday, as the group led by Saudi Arabia and Russia begins unwinding the next layer of halted supplies, having just completed the surprise fast-tracking of a previous tranche. An October increase will start the return of 1.66 million barrels a day of cuts that were scheduled to remain in place until the end of 2026. Some of the delegates added that discussions are ongoing.
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