NEW YORK (AP) — A group of countries that are part of the oil cartel OPEC+ have agreed to boost oil production, which some believe could lower oil and gasoline prices. They cited a steady global economic outlook and low oil inventories. The group met virtually and announced that eight of its member countries would increase oil production by 547,000 barrels per day in September. The countries boosting output, including Saudi Arabia, Russia and Iraq, had been participating in voluntary production cuts. The announcement means the voluntary production cuts will end ahead of schedule.
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