August OPEC+ Plans Will Likely Be Rubberstamped ...Middle East

OPEC+ is largely expected to rubber-stamp next week its decision to boost production in August by 648,000 bpd, five Reuters sources said on Thursday. Of course, that’s what sources said leading up to the previous meeting as well—although the group decided to raise production by more than planned. At the previous meeting, OPEC+ agreed to increase its production by 648,000 bpd for July and another 648,000 bpd in August. This compared to expectations for a 432,000 bpd increase. The current proposal has OPEC+ bringing forward its planned…

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