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Exclusive: OPEC+ set to complete big oil output cut unwinding in Sept, sources say

OPEC+ oil producers are set to approve another big output boost for September as they complete both the unwinding of voluntary production cuts by eight members and the United Arab Emirates' move to a larger quota,

OilPrice.com · 3h

OPEC+ to Complete Unwinding of Oil Output Cuts With Big September Hike

OPEC+ is accelerating its oil production increases, aiming to fully unwind its 2023 supply cuts by September, risking an oversupplied market and pressuring U.S. shale producers.

Bloomberg · 1h

Oil Edges Up as Saudis Bet Market Can Absorb OPEC+ Output Hike

Oil crept higher as Saudi Arabia surprised customers in Asia by hiking prices for its main crude grade, signaling a vote of confidence that the market can absorb extra OPEC barrels.

4hon MSN

Exxon, Chevron, Shell, BP Stocks Fall. OPEC Oil Plans, Gas Trading Fears Are Biting.

The trading slump may be confined to Shell, the biggest European energy company, but it could also be indicative of ...

ABP News on MSN37m

Oil Prices Fall As OPEC+ Surprises Market With Bigger August Output Hike

OPEC+ attributed the production hike to steady global economic conditions and strong market fundamentals, pointing to low ...

11hon MSN

Summer gas prices are headed even lower, as Saudi Arabia accepts the 'lesser evil' of cheap oil

OPEC+ jolted markets by announcing it would flood the market with more oil.

2d

OPEC Plus Agrees to Pump More Oil in August

The increase, which the group said was a response to “a steady global economic outlook,” was higher than some analysts ...

16h

Goldman Sachs expects OPEC+ members to increase oil production by 550,000 bpd in September

Goldman Sachs said it expects a group of eight OPEC+ members to lift oil production quotas by 550,000 barrels per day in ...

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