OPEC+ has agreement in principle for September quota increase and pause thereafter, source says

OPEC+ has agreed in principle to raise its oil output targets by about 188,000 barrels per day starting in September, then pause further changes for the rest of the fourth quarter, according to a source familiar with the group’s talks. The adjustment would effectively extend the September increase without additional volume for the October–December period. A separate OPEC+ delegate and another OPEC+ source also said they expected the same outcome from the Sunday meeting. The proposal comes amid ongoing efforts by OPEC+ to balance supply and demand across global markets. The Reuters report was filed from London on Aug. 2.