Opec is set to agree on Sunday on another modest increase in oil output targets, three sources familiar with the talks said, as the producers’ group moderates plans to regain market share due to rising supply glut fears.
Opec has raised output targets by more than 2.7 million barrels per day (bpd) – about 2.5 per cent of global supply – since April but slowed the pace in October and November from larger increases amid predictions of a looming oversupply.
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