VIENNA: Faced with recession fears, more than a dozen major oil producers and their allies are expected to agree to a modest increase in oil production at a meeting on Monday, with some experts even forecasting a cut to support prices.
The 13 members of the Organization of the Petroleum Exporting Countries, led by Saudi Arabia, and their 10 partners, led by Russia — better known as OPEC+ — are meeting to adjust their quotas for October. Talks are due to start at 7 p.m. on Monday (Manila time).
This March 3, 2022 file photo shows the logo of the Organization of the Petroleum Exporting Countries outside its headquarters in Austria’s capital Vienna. AP PHOTO