OPEC+ to raise oil output by 547,000 bpd in September

RIYADH: The OPEC+ alliance has agreed to increase oil production by 547,000 barrels per day in September, citing improved global economic prospects and stable market fundamentals. In a statement issued on Sunday, the group emphasized its continued flexibility, noting that the gradual phase-out of voluntary production cuts could be paused or reversed depending on evolving market conditions. This approach, it said, ensures the alliance’s ability to respond swiftly and maintain balance in global oil markets.

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