OPEC+ Agrees to Raise Oil Production Target by 100,000 bpd in Sept.

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OPEC+ agreed today, Aug. 3, to raise the production target for September by 100,000 barrels per day (bpd), Reuters reported, citing a member of the group.

The decision came during the OPEC+ Joint Ministerial Monitoring Committee’s meeting today, headed by Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud.

The group pledged to add more than 600,000 bpd to global markets in July and August.