Oil prices (CL=F, BZ=F) are lower as Reuters reports that OPEC+ is discussing a delay in October's scheduled output increase. Yahoo Finance Senior Business Reporter Ines Ferré joins Morning Brief to discuss the news and how it is affecting the commodities market.

Ferré notes that oil prices were initially falling on reports that Libya production may come back online because there may be a solution to the nation's internal dispute. If production were to resume, more supply would become available, driving prices lower.

Because of these collapsing prices, OPEC+ is considering delaying the additional barrels scheduled for October. Gasoline prices (RB=F) are already reflecting these developments, and analysts predict it could fall to an average of $3 per gallon by the end of the year.

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This post was written by Melanie Riehl