OPEC+ agreed on Sunday to raise oil production by 547,000 barrels per day for September, the latest in a series of accelerated output hikes to regain market share, as concerns mount over potential supply disruptions linked to Russia. Oil prices have remained elevated even as OPEC+ has raised output, with Brent crude LCOc1 closing near $70 a barrel on Friday, up from a 2025 low of near $58 in April, supported in part by rising seasonal demand.