Crude oil: Opec+ to raise production by 137,000 bpd from November; group stays cautious amid supply glut fears
Opec+ members, including Saudi Arabia and Russia, decided to raise oil production quotas by 137,000 barrels per day for November. This move aims to reclaim market share amid cautious global demand projections. The increase was lower than many analysts expected. The group seeks to balance market stability with regaining share. Brent crude traded below $65 per barrel last week.🕒 1 min read
Opec+ members, including Saudi Arabia and Russia, decided to raise oil production quotas by 137,000 barrels per day for November. This move aims to reclaim market share amid cautious global demand projections. The increase was lower than many analysts expected. The group seeks to balance market stability with regaining share. Brent crude traded below $65 per barrel last week.
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