OPEC+ RECONSIDERS PLAN TO HIKE OUTPUT IN OCTOBER: OPEC+ is weighing a delay in a planned hike in production output as oil prices enter a declining period, sources told Reuters.
The oil-producing bloc had planned to increase output to 180,000 barrels per day in October, but sources told the publication that supply interruptions from facility shutdowns in Libya and weak demand have caused the group to consider backtracking from their plans. One source told the outlet a delay was looking highly possible.
The possible delay comes as prices dropped to their lowest since last year amid a weak economy and dimmed demand from China. The group had initially planned to roll back layers of output cuts of 2.2 million barrels per day while keeping other
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