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International Business Times
International Business Times
Business

Eight OPEC+ Alliance Members Move Toward Output Hike At Meeting

OPEC Saudi Arabia Giovanni Staunovo Oil Ole Hansen Russia
Key OPEC members are expected to agree a new oil output hike on Sunday (Credit: AFP)

Saudi Arabia, Russia and six other key members of the OPEC+ alliance will discuss crude production on Saturday, with analysts expecting the latest in a series of output hikes for August.

The wider OPEC+ group -- comprising the 12-nation Organization of the Petroleum Exporting Countries (OPEC) and its allies -- began output cuts in 2022 in a bid to prop up prices.

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