Sources: OPEC + tends to increase production slightly again
2025-10-27 16:28:00
On October 28th, four people familiar with the matter said that as Saudi Arabia pushes to regain market share, eight OPEC + oil producers are inclined to implement another small increase in production in December at their meeting this Sunday. Since April, OPEC + has increased its target output by more than 2.70 million barrels per day - equivalent to about 2.5% of global supply - through consecutive months of production increases, which is less than half of the organization's previous cumulative 5.85 million barrels per day of production cuts. Two of the four sources said that the organization is likely to reach an agreement on Sunday on another 137,000 barrels per day of production increase in December, and the other two did not give specific estimates.
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