OPEC + launches "Next Round of Oil Supply" Accelerated Recovery Plan

OPEC+ has agreed to increase oil production again next month. After many years of implementing a "price support" policy, the organization is further advancing towards a policy shift to "expanding production". In a video conference on Sunday, core members of the alliance have approved a plan to increase daily oil production by approximately 137,000 barrels starting from October, and will continue this production increase pace until September next year. This move signals that OPEC+ is accelerating the cancellation of the "next round of supply cuts" measures. This means that the daily oil production capacity of 1.65 million barrels, which was originally planned to remain in a "production cut suspension" state until the end of 2026, will now resume supply at a much faster pace than previously expected.