OPEC Plus to Raise Oil Quotas in September

OPEC Plus, including Saudi Arabia, Russia, and five other countries, decided to increase oil production quotas for September by 188,000 barrels per day, amid tensions in the Middle East. The organization confirmed that the increase is in line with previous months’ levels, without indicating a halt to the cycle of increases, which aligns with analysts’ expectations. The aim of the decision is to manage the impact of regional tensions on the oil market, while continuing current policies to gradually increase production.

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