Oil Prices Dip 2% as OPEC+ Considers Ramping Up Supply
- Oil prices dipped by 2% as the market anticipates the OPEC+ meeting this weekend, where the group may decide to further increase oil output from October.
- The eight OPEC+ producers are considering another increase in oil production for October, with a decision expected at the September 7 meeting.
- If OPEC+ taps the remaining 1.66 million bpd production cuts, it would signal a return to chasing market share, which could keep oil prices subdued.
https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Dip-2-as-OPEC-Considers-Ramping-Up-Supply.html
