OPEC+ likely to keep oil output policy from September unchanged, sources say By Reuters – Investing.com

OPEC+ likely to keep oil output policy from September unchanged, sources say By Reuters – Investing.com

DUBAI/LONDON (Reuters) - OPEC+ is likely to keep its oil output policy unchanged when the group meets on Wednesday and continue with its planned modest production increase, three OPEC+ sources told Reuters.

The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, will meet on Sept. 1 to discuss the previously agreed increase of 400,000 barrels per day (bpd) for the next several months.

U.S. President Joe Biden's administration has urged OPEC and its allies to boost oil output to tackle rising gasoline prices that it views as a threat to the global economic recovery.