It is reported that OPEC+ will consider increasing production again and start lifting the second layer of production cuts.

Two sources said that OPEC+ will consider further increasing oil production at Sunday's meeting as the organization seeks to regain market share. Another production increase would mean OPEC+ will begin unwinding the second tier of cuts, about 1.65 million barrels per day, which represents 1.6% of global demand, more than a year ahead of the original plan. OPEC+ will hold an online meeting on Sunday with eight member countries to decide on October production. Some analysts and OPEC+ sources suggest that OPEC+ may also pause the production increase. The sources said that a final decision has not been made yet. OPEC headquarters and the Saudi authorities did not immediately respond to requests for comment.