OPEC+ is expected to raise its oil production target in September, according to Reuters.

THE Organization of the Petroleum Exporting Countries and Allies (OPEC+) Iran is expected to raise its oil production target again starting in September, maintaining its schedule of gradually increasing supply even amid escalating tensions between Iran and the United States, Reuters reported on Thursday (23), citing cartel sources. According to the report, the group's main members — Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman — are expected to approve an increase of approximately 188,000 barrels per day (bpd) for September, the same volume authorized for June, July, and August. The decision is expected to be discussed during the OPEC+ meeting, scheduled for August 2nd. The meeting will take place at a time of strong volatility in the international oil market. Oil prices have approached the US$100 per barrel mark following the worsening tensions in the Middle East and the collapse of a preliminary peace agreement between the United States and Iran.

This text was translated by machine from Brazilian Portuguese.