OPEC+ reportedly likely to consider „modest increase” in output

The JMMC meeting is said to have started and OPEC+ are believed to be discussing an output hike of below 400k bpd for September. As things stand, the bloc itself is already struggling to meet its quota so I don’t see how any increases are going to make much difference to oil market sentiment. Nonetheless, oil prices remain heavy with Brent trading 1% down on the day back below the $100 mark.

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