VIENNA, Oct 5 : Saudi Arabia, Russia and six other members of Opec+ on Sunday decided to raise their production quotas by 137,000 barrels a day in November, as they continue to regain market share.
“In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, the eight participating countries decided to implement a production adjustment of 137 thousand barrels per day from the 1.65 million barrels per day additional voluntary adjustments announced in April 2023,” the group said in a statement after an on-line meeting.
