OPEC + plans to increase production on Sunday, and differences between Russia and Russia hide supply variables

On October 3rd, sources said that OPEC + may further increase oil production on Sunday, but the specific increase is not yet clear. Among them, Saudi Arabia, the leader of the organization, advocates a large increase in production to regain market share, while Russia suggests a small increase in production. As the two largest oil producers of OPEC +, Russia and Saudi Arabia have sometimes disagreed on the amount of production increase in the past few years, but they have always been able to reach a compromise. According to two people familiar with the matter, < b > Russia wants the organization to increase production by 137,000 barrels per day from November (the same as the increase in production in October). This move is to avoid downward pressure on oil prices, and it is difficult for Russia to achieve a larger increase in production due to the impact of sanctions. According to people familiar with the matter, < b > Saudi Arabia wants to double, triple or even quadruple this increase in production , that is, to achieve an increase of 274,000 barrels per day, 411,000 barrels per day or 548,000 barrels per day. The reason why Saudi Arabia made this request is because it has the ability to quickly increase production and hopes to expand market share.