By Ahmad Ghaddar and Olesya Astakhova
London (Reuters) – The organization of oil exporting countries and its allies (OPEC+) should announce an increase in its oil production of around 548,000 barrels per day for September, two sources in the group said on Sunday.
A decision is expected at a meeting that should start at 11:00 GMT.
OPEC+, which provides about half of world oil production, has reduced production in recent years to support the market. But she went back this year to regain market share, while US President Donald Trump called her to contribute to the stability of fuel prices.
The organization began to increase its production in April with a modest increase of 138,000 BPJ, followed by larger increases of 411,000 BPJ in May, June and July and 548,000 BPJ in August.
If OPEC+ approves an increase of 548,000 for September, it will have completely compensated for its latest production reduction of 2.2 million BPJ and the United Arab Emirates will have increased their quota by 300,000 BPJ in advance on the calendar.
Eight members of OPEC+ are still subject to voluntary reduction distinct from their production of around 1.65 million BPJ and all countries to a drop of 2 million BPJ. These restrictions must expire at the end of 2026.
Sources said before that the group did not intend to discuss other reduction slices on Sunday.
(With Lawler and Dmitry Zhdannikov, written by Dmitry Zhdannikov; Kate Entringer)
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