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Crude prices are falling for a second consecutive day, driven by concerns about a global supply glut as OPEC+ is set to increase its crude production levels. Todays' weaker dollar is limiting losses in crude.Nat-Gas Prices Rally on Forecasts for Hotter US TempsCrude Prices Sink on the Outlook for Higher OPEC+ Oil ProductionCrude Prices Sharply Lower on Prospects of Larger Global Oil SuppliesTired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now!Crude prices are being weighed down by the outlook for larger OPEC+ crude production. According to an OPEC delegate, the group is expected to discuss on Sunday fast-tracking its latest round of supply hikes in three monthly installments of about 500,000 bpd, starting in November, to return the remainder of a 1.66 million bpd supply cut. OPEC+ is boosting output to reverse the 2-year-long production cut, gradually restoring a total of 2.2 million bpd of production by September 2026. OPEC's August crude production rose by 400,000 bpd to 28.55 million bpd, the highest in over two years.Crude prices added to their losses today after the International Energy Agency (IEA) said the global oil market is headed for a record surplus next year of 3.33 million bpd, about 360,000 bpd more than they projected a month ago, as OPEC+ continues to revive production.The outlook for higher crude production in Iraq is also expected to boost global oil supplies, which is bearish for crude prices. Iraq last Monday announced that it had reached an agreement with the regional government of Kurdistan to resume oil exports from the Kurdish region via a pipeline to Turkey, which had been halted for the past two years due to a payment dispute. Iraqi Foreign Minister Hussein said Thursday that the resumption of crude exports could add 500,000 bpd of fresh oil supplies to global markets. Reduced crude demand from India, the world's third largest crude oil importer, is negative for oil price after India's Aug crude imports fell -2.9% y/y to 19.6 MMT.An increase in crude oil held worldwide on tankers is bearish for oil prices. 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