OPEC+ will likely raise oil output further from October, sources say

OPEC+ will likely raise oil output on Sunday but probably add less oil from October than in recent months as global demand might be slowing with the end of the driving season, OPEC+ sources said on Saturday. OPEC+ has reversed its strategy of output cuts from April and has already raised quotas by about 2.5 million barrels per day, about 2.4% of world demand, to boost market share and under pressure from US President Donald Trump to lower oil prices. But those increases have failed to significantly dent oil prices, which are trading near $66 a barrel supported by Western sanctions on Russia and Iran, encouraging further production gains in rivals such as the United States. Another output boost would...