Key members of the OPEC oil alliance are expected to approve another increase in oil production at a meeting on Sunday.
This move is the latest in a series of output hikes that analysts believe are designed to regain market share, especially as crude oil prices remain steady.
The group of eight nations, known as the Voluntary Eight V8, is expected to raise production by 548,000 barrels per day bpd for September, a similar increase to last month.
This decision marks a shift in strategy for the group, which had previously focused on production cuts to support oil prices.
Despite the recent increases, oil prices have remained more resilient than many analysts predicted. Experts attribute this to high summer demand and geopolitical risks, particularly from the recent Iran-Israel conflict.