Reported 3 days ago
OPEC+ has decided to increase oil production by 137,000 barrels per day starting November, matching the increment from October. This cautious move addresses market concerns about potential oversupply and reflects a compromise between Russia and Saudi Arabia regarding production levels. Brent crude prices have risen nearly 1.5% following the announcement, while the group prepares to reassess output strategies in their November meeting.
Source: YAHOO