The countries in the oil cartel Opec-plus announced on Sunday that oil production will be increased in September by 547,000 barrels per day.
The production increase is made to regain market shares, according to analysts.
Currently, the countries in the oil cartel produce around 41 million to 42 million barrels per day.
According to assessors, it is unlikely that the increase in production will have any major impact on oil prices.
Opec-plus has implemented several major production increases in recent months.
The cartel includes Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman.
