September 6, 2024 11:43 AM

OPEC+ agrees to delay October oil output hike for two months

OPEC+ has agreed to delay a planned oil output increase for October and November, the producers' group said on Thursday after crude prices hit their lowest in nine months, adding that it could further pause or reverse the hikes if needed. Oil prices have been falling along with other asset classes on concerns about a weak global economy and soft data from China, the world's biggest oil importer.  Eight members of OPEC+, which is made up of the Organization of the Petroleum Exporting Countries...