OPEC+ considers postponing December oil production increase due to demand and supply concerns.

OPEC+ may postpone its planned December oil production increase of 180,000 barrels per day due to concerns over declining demand and rising supply. This decision could be made as early as next week, with a final determination expected at the group's meeting on December 1. Following the news, oil prices rose over 2%, reflecting market uncertainty amid a fragile economic outlook and increased production from other countries.

October 30, 2024
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