Commodities
OPEC+ Raises Oil Production for Sixth Consecutive Month
OPEC+ has increased oil production for the sixth consecutive month, raising the limit by 188,000 barrels per day in September.
The decision was made after a virtual meeting on August 2 between seven countries in the group, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman.
The increase is part of a joint commitment to support oil market stability, according to the OPEC+ statement. The participating countries will adjust production flexibly based on market conditions and meet again on September 6 to determine the October production level.