The Organisation of the Petroleum Exporting Countries, OPEC, and its allies are now meeting to decide whether to press on with plans to increase crude oil production by 400,000 barrels per day.
The OPEC+, seeks to eventually eliminate its historic output cuts implemented at the start of the COVID-19 pandemic.
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The global oil benchmark, Brent crude, fell by $0.44 to $72.97 per barrel as of 7:28 pm Nigerian time on Tuesday.
After weeks of wrangling, OPEC+ resolved on July 18 to increase their overall production by 400,000 BPD on a monthly basis starting from August until phasing out the 5.8 million BPD production adjustment.
Editor: Oloyede Oworu
