OPEC+ Set to Agree Another Modest Oil Output Increase, Sources Say

OPEC Plus set to agree on small oil output increase, despite sanctions and market concerns. The group, including Saudi Arabia and Russia, plans to raise production targets by 137,000 barrels per day in December, following a cautious approach to balance the market. The decision comes amidst sanctions on Russian oil companies and fluctuating oil prices, which recently dipped to a five-month low before recovering. OPEC Plus aims to maintain group-wide cuts until 2026, as the oil market closely watches supply and price developments. The Daily News Now! - Every city. Every story. AI Powered. Hosted on Acast. See acast.com/privacy for more information.