NEXT month, Organisation of the Petroleum Exporting Countries and its allies (OPEC+) will increase crude oil production by 137,000 barrels per day. The extra barrels are a part of the gradual unwinding of previous production cuts.
OPEC+ has returned some 2.5 million barrels year-to-date as member producers seek market share and raise revenues amidst expectations of a slowing global demand and potential surplus.
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