Previously, Reuters and Bloomberg news agency reported on the basis of insiders that members had agreed on a production increase of approximately 135,000 barrels per day in October. The Iraqi representative at the OPEC, Mohammed Al-Najjar, said that the group will probably meet between 130,000 and 140,000 barrels more a day.
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The OPEC+ consists of the Oliek cartel OPEC and allies such as Russia and Kazakhstan. For a long time, the countries chose to limit their production to support oil prices. Since April, eight members, including Russia and Saudi Arabia, have chosen to gradually lift certain production restrictions.