By Olesya Astakhova and Ahmad Ghaddar
MOSCOW/LONDON (Reuters) -OPEC+ will likely approve another oil production increase of at least 137,000 barrels per day at its meeting next Sunday, as rising oil prices encourage the group to try to further regain market share, three sources familiar with the talks said.
OPEC+ has reversed its strategy of output cuts from April and has already raised quotas by more than 2.5 million barrels per day, representing about 2.4% of world demand, to boost market share and after coming under pressure from U.S. President Donald Trump to lower oil prices.
Eight OPEC+ countries will hold an online meeting on October 5 to decide on November output. OPEC+ pumps about half of the world’s oil and includes the Organization of the Petroleum Exporting Countries plus Ru