OPEC+ Struggles To Lift Production As Oil Market Tightens Further

The OPEC+ group lifted its production in August, but underinvestment and maintenance work has hampered the group's ability to raise production—and supply could be insufficient to meet the world's growing oil demand, Reuters suggested on Tuesday. Global oil demand has recently risen to near-record levels as global activity picks up steam despite the pandemic. In response, OPEC+ agreed to increase oil production starting in August by another 400,000 bpd each month. But not all producers have responded to the call for more barrels.  Angola,…