OPEC+ will likely raise oil output further from October: Reuters

Oil Steadies as Traders Weigh OPEC+’s Modest Increase to Output

Oil steadied after OPEC+ agreed to raise production at a modest rate next month, highlighting some caution from the group as the market faces a glut toward the end of the year.

Key OPEC+ members hike output despite falling oil prices

LONDON: Eight key members of the OPEC+ alliance said Sunday they have agreed to again boost oil production, in a strategy analysts saw as a bid to gain a bigger market share of crude sales.

Opec+ agrees another rise in oil output for October

The supergroup of oil producers decides on 137,000 bpd oil output increase

Key Opec members send ‘big message’ with higher oil production

Opec has in recent years implemented several output cuts amounting to a total of almost six million barrels per day.

Oil prices could fall even further as key OPEC+ members agree on production hike to gain more market share

Eight key members of the OPEC+ alliance said Sunday they have agreed to again boost oil production, in a strategy analysts saw as a bid to gain a bigger market share of crude sales. Oil ministers in the V8 grouping — comprising Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman — decided to increase production by 137,000 barrels a day (bpd) from next month, they said in a statement. Those countries had alr…