The OPEC+ alliance has shifted its strategy and has sought to gain market share by increasing output

The OPEC+ alliance has shifted its strategy and has sought to gain market share by increasing output

 Paul Ratje

Saudi Arabia, Russia and six other key members of the OPEC+ alliance are likely to agree to raise crude output when they meet virtually on Sunday, with analysts divided over the size of the expected hike.

The meeting by the group of eight oil-producing countries known as the "Voluntary Eight" (V8) comes as oil prices head for weekly losses and rumours of a possible output increase of up to 500,000 barrels per day (bpd) swirl.

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