OPEC will likely begin unwinding its production cuts in October, six OPEC sources told Reuters on Friday.
If
member Libya’s significant oil production losses that began this week. Brent crude reacted violently to the anonymous insider news, falling more than 1.5% in mid-day trading, although original losses were already starting to ease at the time of writing. So far, Libya’s production has seen a 700,000 bpd decline as a result of Libya’s eastern government shutting down oilfields as political infighting between two Libyan groups jockeying for power escalates.
members are set to increase crude oil production by 180,000 bpd in October as part of the group’s existing plan to unwind the 2.2 million bpd of voluntary cuts.
Oil Oil Production Oil Demand Economic Growth Output Cuts
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