OPEC+ Keeps November Oil Output Quotas Unchanged; Brent Crude Trades Near $101 Per Barrel
OPEC+ has decided to keep oil output quotas for November unchanged at October levels, marking the second consecutive month of steady production targets. Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman reviewed global oil market conditions during a virtual meeting and reaffirmed their commitment to existing production arrangements. The next meeting is scheduled for November 1. Meanwhile, crude prices remained under pressure, with Brent futures trading around $101 per barrel and WTI crude slightly above $90. Watch for the latest updates on OPEC+, global oil supply, crude prices, energy markets, geopolitics and the outlook for oil demand.
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