Opec-Plus Output Rises Amid Demand Concerns

摘要

The Opec-plus producer alliance started to scale back its oil production cuts on Aug. 1, but the outlook for demand remains shaky, which could prompt major producers to offer price discounts to prop up sales volumes. In line with their April agreement to make massive production cuts over a two-year period, Opec- plus members are officially targeting cuts of 7.7 million barrels per day in the final five months of this year, down from 9.6 million b/d in July.