# Oil Dips As OPEC+ Remains On Track To Raise Production

> Oil prices fell 2% on Friday as OPEC+ moved ahead with plans to raise output from October. Libyan production losses, reported at about 63% of national output, partly offset the supply increase.

- Date: 2024-08-30 · published 2024-08-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/28955-oil-dips-as-opec-remains-on-track-to-raise-production
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expected OPEC+ supply additions cap crude prices, lowering energy input costs for feed and biofuel chains, while Libyan disruptions provide only partial support.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- db.forbesmiddleeast.com: https://db.forbesmiddleeast.com/industry/energy/oil-falls-2-amid-opec-plans-to-raise-production-starting-october

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.