The eight OPEC + countries are Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman

The eight OPEC + countries are Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman

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.…

Eight producers, led by Saudi Arabia, will continue boosting production despite forecasts that supply will soon exceed demand.

The hike is the latest in a series of accelerated output increases, as concerns mount over potential supply disruptions linked to Russia.