03-08-2025
OPEC+ Agrees Big Output Hike to Finish Unwinding Round of Cuts
OPEC+ agreed on another bumper oil production increase for September, completing its current tranche of supply revival one year early as the group moves to reclaim its share of global crude markets.
Saudi Arabia and its partners agreed on a video conference to add about 548,000 barrels a day next month, delegates said. This completes the reversal of a 2.2 million-barrel cutback made by eight members in 2023, and also includes an extra allowance being phased by the United Arab Emirates.
