All pack will hold a meeting Wednesday to decide how much oil they might add to the market from September. OPEC is a cartel to control oil output in order to influence oil prices. So the Arabia is the biggest producer in the cartel. InSadi has pressure from us to increase supply, but officials have also stressed to consult with OPEC plus for any
reasing decisions for competition reasons. Russia is the biggest producer in open class, except Saudi.
If OPEC really can add more oil output, the prices may go down, but most of the countries are already struggling to meet their existing monthly supply targets. Saudi and UAE are the only two major players with spare capacity. So this target for August is 11 million barrels per day. It's already at a veryhigh level, leaving a little room for more increases.