The eight OPEC+ countries agreed on Monday to increase oil production in September by 548,000 barrels per day, three OPEC+ sources said during the meeting, quoted by Reuters, BTA reports.
The group will hold its next meeting on September 7, one of the sources said.
The OPEC+ group is a union of Saudi Arabia, Russia, Iraq, the United Arab Emirates (UAE), Kuwait, Kazakhstan, Algeria and Oman. Together, they are responsible for about 40 percent of global oil production.
The eight countries in the group have been following a consistent policy of reducing production since 2022, reducing quantities by 2.2 million barrels. Since April, however, they have changed the regime and begun a phased increase in their oil production.
Last, in July, they agreed to increase oil production by 548,000 barrels per day in August.