US EditionOPEC+ set to complete big oil output cut unwinding in Sept, sources say
- OPEC+ oil producers are expected to approve a production increase of around 550,000 barrels per day for September, completing the unwinding of cuts by eight members, according to five sources.
- Since April, the group's total production increases will reach 2.47 million bpd, just under 2.5% of global demand, according to five sources.
- Saudi Arabia will pump close to 10 million bpd, while the UAE will output approximately 3.375 million bpd, based on information from five sources.
- The UAE is benefiting from an accelerated unwinding of quota increases, Richard Bronze from Energy Aspects noted.
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Rodríguez, who also holds the position of executive vice president of Venezuela, was received at Vienna International Airport by the Secretary General of OPEC, Haitham Al Ghais, and by the Venezuelan ambassador to Austria, Claudia Salerno, along with other authorities. Subsequently, the minister held a meeting with Al Ghais, in which delegations from both sides also participated. During her participation in the seminar that will take place on Ju…
Exclusive: OPEC+ set to complete big oil output cut unwinding in Sept, sources say
OPEC+ oil producers are set to approve another big output boost for September as they complete both the unwinding of voluntary production cuts by eight members and the United Arab Emirates' move to a larger quota, five sources said.
Opec+ set to complete unwinding of oil output cut in September_ sources say
London — Opec+ oil producers are set to approve another big output boost for September as they complete the unwinding of voluntary production cuts by eight members and the United Arab Emirates’ move to a larger quota, sources said. The group, which pumps about half of the world’s oil, has been curtailing production for several years to support the market. But it has reversed course this year to
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