Overview

• Eight members of OPEC+ will meet online Sunday to decide October supply, with a further output increase under consideration, according to sources.
• Some analysts and an OPEC+ source say the group could pause additional increases for October, and no final decision has been made.
• Any new hike would begin unwinding a second layer of cuts totaling about 1.65 million barrels per day, equal to roughly 1.6% of global demand.
• OPEC+ produces around half of the world’s oil, making even modest changes to its output plans consequential for global balances.
• Oil prices fell about 2% on the report before recouping part of the drop as traders reassessed the potential outcomes.