In a surprising move, OPEC+ has decided to increase oil production by 137,000 bpd starting October, despite expectations of declining global demand. This strategic shift raises questions about market stability and pricing as winter approaches.
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OPEC+ is set to accelerate its oil output hikes and may unwind 2.2 million barrels per day of cuts by October if compliance doesn't improve among members. This move follows a surprising agreement in April designed to penalize non-compliant nations.
