OPEC+ Eight to raise oil production limit in November
5 October 20:14
Eight OPEC+ member countries that voluntarily limit oil production (Russia, Saudi Arabia, Iraq, Kazakhstan, Kuwait, UAE, Oman and Algeria) have agreed to an additional increase in the authorized production by 137 thousand barrels per day compared to the October level. This is stated on the website of the OPEC organization, "Komersant Ukrainian" reports.
“Eight member countries decided to adjust production by 137 thousand barrels per day compared to the additional voluntary restrictions of 1.65 million barrels per day announced in April 2023. This adjustment will be made in November 2025,” the official statement said.
The organization noted that the reason for this decision was favorable market indicators, which are reflected in low oil reserves.
