OPEC+ completes 2023 production cut rollback

OPEC+ members, led by Saudi Arabia and Russia, approved a 188,000 barrel-per-day production increase for September, marking the sixth consecutive monthly rise and completing the reversal of 1.65 million barrels-per-day in voluntary cuts made in 2023. The decision aims to offset global supply disruptions from conflicts in the Middle East, Iran, and Ukraine.