OPEC+ Set to Hike Oil Output Target by 188k Barrels per Day in September

OPEC+ is likely to increase its oil production target from September at its upcoming meeting on August 2, according to informed sources.

The alliance is expected to raise its production target by around 188,000 barrels per day (bpd) in September, matching the increases approved for June, July, and August.

No final decision has been made yet due to ongoing US-Iran tensions limiting some member states' ability to increase actual production.