OPEC poised to scrap Q4 production hike

As of mid-August, Brent crude oil has experienced a USD 5 per barrel (6.

5%) increase in price since the low point on August 5th, currently trading at USD 80. 3 per barrel, and remaining relatively unchanged from Monday’s opening.

As previously noted, the OPEC+ Joint Ministerial Monitoring Committee (JMMC) did not make any new recommendations at.