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OPEC+ Answers Biden’s Diplomacy With ‘Minuscule’ Output Hike

  • Group will add 100,000 barrels a day of supply in September
  • That’s significantly less than increases made in July, August
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OPEC+ Agrees to Small Daily Production Increase
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OPEC+ responded to months of diplomatic efforts from US President Joe Biden with one of the smallest oil production increases in its history. 

The cartel will add only 100,000 barrels a day of oil in September, giving a tight market extra supplies at a much slower pace than in recent months despite pressure from the White House to help cool prices.