A group of countries that are part of the oil cartel OPEC+ have agreed to boost oil production, which some believe could lower oil and gasoline prices.

OPEC+ members have agreed to a second consecutive production increase this year, effectively ending voluntary cuts on production.

Oil prices slipped in early Asian trade on Monday after OPEC+ agreed to another large production hike in September. Brent crude futures fell 43 cents, or 0.62%, to $69.24 a barrel by 2218 GMT while U.