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10/4, 3:55 PM (Source: TeleTrader)
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OPEC to increase monthly output by 400,000 bpd

The Organization of the Petroleum Exporting Countries (OPEC) confirmed on Monday it will increase monthly overall production of oil by 400,000 barrels per day (bpd) for the month of November.

At the OPEC and non-OPEC ministerial meeting, the countries "reiterated the critical importance of adhering to full conformity and to the compensation mechanism taking advantage of the extension of the compensation period until the end of December 2021." The next meeting will take place on November 4.

Baha Breaking the News (BBN) / DJ