A slowdown in demand growth, notably in China, has weighed on oil prices and prompted some analysts to doubt whether OPEC+ will go ahead with the October increase
OPEC + is set to proceed with a planned oil output hike from October, as Libyan outages and pledged cuts by some members to compensate for overproduction counter the impact of sluggish demand, six sources from the producer group told Reuters .
A slowdown in demand growth, notably in China, has weighed on oil prices and prompted some analysts to doubt whether the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, will go ahead with the October increase. “There are many uncertainties on demand but there is also the hope that the Fed’s interest rate cut will boost economic growth,” one of the sources said.
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