OPEC debates sticking with small oil production increase
OPEC is trying to decide if it should stick with a small oil production increase or go bigger in November, after months of steady supply returns.
The group is worried about too much oil hitting the market and prices slipping further, so they're debating between a 137,000 barrels-per-day bump or something larger.
OPEC+ is divided on how quickly to restore cuts
OPEC+ wants to bring back about 1.65 million barrels per day that were previously cut, but they're split on how fast to do it.
Even though prices are at a four-month low, Saudi Arabia and the UAE want faster increases to win back market share, but Russia isn't on board.
There's also pressure from the US for cheaper fuel ahead of a high-profile meeting between Saudi Crown Prince Mohammed bin Salman and President Trump next month.
OPEC may opt for smaller monthly increases
Instead of one big production jump, OPEC might choose smaller monthly increases so they can adjust more easily if things change.
Their final call will depend on how all these moving parts—demand shifts, politics, and global tensions—play out over the coming weeks.