OPEC+ is accelerating its oil production increases, aiming to fully unwind its 2023 supply cuts by September, risking an oversupplied market and pressuring U.S. shale producers.

OPEC+ oil producers are set to approve another big output boost for September as they complete both the unwinding of voluntary production cuts by eight members and the United Arab Emirates' move to a larger quota,

OPEC+ announced a significant oil production hike of 548,000 barrels per day (bpd) for August, accelerating its output increase strategy amid volatile global energy markets. The decision follows recent

Oil prices slipped on Monday after OPEC+ surprised markets by hiking output more than expected in August, while uncertainty over U.S. tariffs and their potential impact on global economic growth weighed on demand expectations.