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OPEC+ countries are inclined to increase oil production in October in line with previously announced plans, Bloomberg reported, citing representatives involved in the discussions.
OPEC+ countries reportedly plan to increase production by 180,000 bpd in October. At the same time, the group has repeatedly stressed that it may abandon this move given the market situation, which many analysts and market participants predict will happen.
But several senior officials, speaking on condition of anonymity, said there was no indication yet that the planned production increase would be delayed.
Oil prices have fallen sharply over the past two months, with North Sea Brent crude falling below $80 a barrel on Friday. Meanwhile, Libya’s political crisis, which has cut the country’s production by half, could give OPEC+ some wiggle room, Bloomberg writes.
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