OPEC+ Delegates Don’t See Oil-Hike Plan Changes at Meeting
- Group has agreed on a production increase starting in October
- Ministerial panel next month will be routine, delegates say
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OPEC+ delegates expect the group’s monitoring session next month to be routine, making no changes to plans for a supply hike starting in the fourth quarter.
The group led by Saudi Arabia and Russia agreed last month to begin gradually restoring roughly 2.2 million barrels a day of halted crude output from October. When prices immediately slumped, officials stressed that a committee due to gather on Aug. 1 could postpone the hike if necessary.