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The Organization of the Petroleum Exporting Countries and their allies, together known as OPEC+, agreed to keep their current production agreement in place after brief online talks on Wednesday The OPEC+ ministers reconfirmed the “production adjustment plan and monthly production adjustment mechanism” it put in place at their previous meeting in July to “adjust upward the monthly overall production” by 400,000 barrels per day for the month of October, they said in a press release. OPEC+ had reached an agreement in July to raise oil production by 400,000 barrels a day each month from August to eventually undo all of the output curbs they put in place last year in the midst of the COVID-19 pandemic.
...read full article on Market Watch
