OPEC+ weighs delay on oil production hike

OPEC+ is discussing delaying an oil output increase scheduled to start in October after oil prices hit their lowest in nine months, four sources from the producer group told Reuters this week.

The move comes as oil prices have been falling together with other asset classes on concerns about a weak global economy and particularly soft data from China, the world’s biggest oil importer.

Last week, the Organization of the Petroleum Exporting Countries and allies led by Russia, or OPEC+ as it is known...