The increases were part of a plan to gradually return a broader 2.2 million barrels per day of supply to the market over the following months.
Members of the OPEC+ oil alliance have delayed plans to hike production by a scheduled 180,000 barrels per day in October, according to two OPEC+ sources, who could only speak anonymously due to the sensitivity of talks.
The 2.2 million-barrel-per-day decline had been a short-term voluntary cut implemented by just eight members of the OPEC+ alliance. The 2.2 million-barrel-per-day decline had been a short-term voluntary cut implemented by just eight members of the OPEC+ alliance.Crude futures, which slumped in the earlier part of the week, picked up on Thursday, with the Ice Brent contract with November expiry was trading at $73.63 per barrel at 3:29 p.m. London time, up 1% from the previous settlement. The front-month October Nymex contract was at $70.17 per barrel, higher by 1% from the previous close price.
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