Goldman Sachs and Morgan Stanley are lowering their price forecasts on crude oil (BZ=F, CL=F) as OPEC+ plans to increase its production output this October and conflicts escalate in the Middle East between Israel and Hezbollah forces in Lebanon.

Yahoo Finance senior business reporter Ines Ferré highlights these revised price forecasts and what it means for oil producers.

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This post was written by Luke Carberry Mogan.