OPEC+ to keep deal unchanged, raise oil output by 400,000 bpd Oct

MOSCOW, Sep 1 (PRIME) -- The OPEC+ states have agreed to maintain the current conditions of the oil output reduction agreement, and will increase oil production by 400,000 barrels per day in October, a source with one of the delegations told PRIME on Wednesday.

“Further growth of the output by 400,000 barrels per day in October has been agreed,” the source said.

The OPEC+ countries agreed to reduce their oil output by 9.7 million barrels per day in May 2020 to fight the consequences of the global coronavirus pandemic, with Russia’s share of 2.5 million barrels per day. The cut was narrowed to 7.7 million barrels per day for August–December 2020, and then to 5.8 million barrels per day.

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