In August, the OPEC+ countries saw an oil output increase of 548,000 bpd amid a plan to gradually unwind their most recent layer of output cuts.
Sunday's decision was made during a virtual meeting where member countries, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, reviewed global market conditions and outlook, according to a statement on the OPEC website.
The statement noted that the gradual increases may be paused or reversed subject to evolving market conditions.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, announced the decision on Sunday to increase oil output by 547,000 barrels per day (bpd) in September.
Xinhua
Source : https://en.igihe.com/news/article/opec-to-continue-to-ramp-up-oil-output
