OPEC+ is likely to approve more oil production on Sunday, the sources say

By Alex Lawler, Olesya Astakhova and Ahmad Ghaddar

OPEC+ sources said on Saturday that the OPEC+ countries in London/Moscow (Reuters) –

OPEC+ reflected its strategy of production cuts from April, and has already raised about 2.5 million barrels per day, about 2.4 % of global demand, to enhance the market share and under pressure from the United States President Donald Trump To lower oil prices.

But these increases have failed in oil prices significantly, which are traded near $ 66 a barrel supported by Western sanctions on Russia and Iran, which encourages production gains in competitors such as the United States.

Another output batch means OPEC+, which pumps about half of the world’s oil, will start relaxing a second layer of cuts of about 1.65 million barrels per day, or more than a year of the specified date.

Two sources said on Saturday that the talks focused on relaxing these full pieces in the gradual monthly increases. Eight OPEC+ will hold an online meeting on Sunday at 1230 GMT, as it is expected to be the focus on October production.

OPEC+ source said that countries may raise production by 135,000 barrels in October, while another in October may be closer to 200,000-350,000 barrels per day.

At their last meeting in August, the eight members raised production by 547,000 barrels in September, completing a complete increase in production for 2.5 million barrels. This included allocating the additional production of 300,000 barrels per day.

OPEC headquarters in the Kingdom of Saudi Arabia did not respond to the requests for comments on Wednesday.

Opec+ includes the organization of oil exporting countries in addition to Russia and other allies.

BRNT VUST futures for BRENT VUST settled at $ 65.50 a barrel on Friday, a 2.2 % decrease, by pressing through a weak job report in the United States and OPEC+high output expectations. This still rises from the level of 2025 less than $ 58 in April.

In addition to the sanctions, analysts said that the benefits that OPEC lacks+ have fallen from threatened amounts have supported prices.

Until April, OPEC+ was underestimating production for several years to support oil prices.

The following product is 1.65 million barrels per day until the end of 2026, as with the entire group 2 million barrels.

(Participated in the coverage, Alexia Astakova, Alex Luller, Ahmed Ghadar and Dimitri Thdanikov, editor of Alexandra Hudson)