Report: OPEC+ intends to postpone plans to increase oil production again.

Three sources told Reuters on Wednesday that the Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia (OPEC+) may delay the planned increase in crude oil production that was set to take effect in December. According to the knowledgeable sources, the plans to increase oil production could be postponed by a month or more, reflecting concerns over weak global oil demand coinciding with an increase in supply in energy markets, undermining plans to boost production. Plans to increase crude oil production by 180,000 barrels per day by eight OPEC+ members have already been postponed to December instead of October due to falling oil prices at that time. Two sources familiar with OPEC+ talks stated that the increase in crude oil production in December might be postponed for at least a month, although no specific time frame has been established, with the possibility that a decision on the delay could come as early as next week.