The Organization of the Petroleum Exporting Countries (OPEC) is likely to proceed with its planned gradual increase in oil production starting in October, according to six sources within the alliance speaking to Reuters. This move comes amid production disruptions in Libya and commitments from some member countries to reduce output, which are expected to offset the impact of slowing global demand.

Eight OPEC member countries are set to raise production by 180,000 barrels per day in October as part of a plan to begin phasing out the most recent production cut of 2.2 million barrels per day. Other production cuts will remain in place until the end of 2025.

Despite the slowdown in demand growth, particularly in China, which has affected oil prices, the OPEC+ alliance appears committed to its production increase plan. This decision raises questions about the alliance's ability to navigate market challenges.