OPEC+ likely to approve fresh oil output hike from September: Sources

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OPEC+ is likely to agree on another increase in its oil production target from September at its meeting scheduled for Aug. 2, Reuters reported, citing informed sources.

According to the sources, the alliance is expected to raise its production target by about 188,000 barrels per day (bpd) in September, matching the increases approved for June, July, and August.

The sources noted that no final decision has been made yet, as the US-Iran conflict continues to limit some member states' ability to increase actual production.