financetom
Business
financetom
/
Business
/
OPEC+ discussing delay to planned oil output hike in October, sources say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
OPEC+ discussing delay to planned oil output hike in October, sources say
Sep 6, 2024 12:07 PM

LONDON (Reuters) -OPEC+ is discussing a delay in a planned output increase next month as oil prices hit their lowest in 9 months, three sources from the producer group told Reuters on Wednesday.

Last week, the group looked set to proceed with a 180,000 barrel per day (bpd) hike in October, but market volatility from oil facility shutdowns in Libya and a weak demand outlook have raised concern within the group, one of the sources said.

"There are suggestions to delay the increase," one of the sources said. Another said a delay was looking "highly possible" at this stage.

Eight OPEC+ members are scheduled to raise output by 180,000 bpd in October as part of a plan to begin unwinding their most recent layer of output cuts of 2.2 million bpd while keeping other cuts in place until the end of next year.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Rio2 Receives US$50 Million Deposit Payment from Wheaton Precious Metals
Rio2 Receives US$50 Million Deposit Payment from Wheaton Precious Metals
Nov 3, 2025
08:37 AM EST, 11/03/2025 (MT Newswires) -- Rio2 ( RIOFF ) said Monday that it received a fourth and final deposit payment of US$50 million from Wheaton Precious Metals ( WPM ) in connection with the previously announced amended and restated precious metals purchase agreement and flexible pre-pay arrangement over the Fenix gold project in Chile. Rio2 ( RIOFF )...
Petrobras Approves Voluntary Severance Program, Targeting 1,100 Employees
Petrobras Approves Voluntary Severance Program, Targeting 1,100 Employees
Nov 3, 2025
08:37 AM EST, 11/03/2025 (MT Newswires) -- Petroleo Brasileiro SA, known as Petrobras, (PBR) said Monday its board of directors has approved a new voluntary severance program. Eligible employees number about 1,100 and are those who are currently active and have retired under the Brazilian social security system before the enactment of a 2019 constitutional amendment, the company said. The...
MRI-compatible device maker IRadimed tops Q3 revenue estimates, raises guidance 
MRI-compatible device maker IRadimed tops Q3 revenue estimates, raises guidance 
Nov 3, 2025
Overview * IRadimed ( IRMD ) Q3 revenue grows 16% yr/yr, beating analyst expectations * Adjusted EPS for Q3 rises 9% yr/yr, reflecting operational strength * Company raises full-year 2025 revenue and EPS guidance Outlook * IRadimed ( IRMD ) raises full-year 2025 revenue guidance to $82.5 mln to $83.5 mln * Company expects Q4 2025 revenue of $21.4 mln...
T. Rowe Price COO Kimberly Johnson to Depart in December
T. Rowe Price COO Kimberly Johnson to Depart in December
Nov 3, 2025
08:38 AM EST, 11/03/2025 (MT Newswires) -- T. Rowe Price ( TROW ) said Monday that Chief Operating Officer Kimberly Johnson will leave the company in December. The company also said that Chief Technology Officer Ramon Richards will lead the newly created technology, data, and operations function. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved