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OPEC+ Holds November Quota at 31.01 Million Barrels Daily
OPEC+ agreed on Sunday to keep its oil production quota for next month unchanged from this one, in line with expectations, after it unwound its production cuts earlier this year in a bid to offset the deepening supply shortage from the Middle East. The total for October and November stands at 31.01 million barrels per day for the eight OPEC+ members covered by the quota. However, in August the group only produced 25 million barrels daily, which was well below its own quota. Indeed, most of the unwinding of production cuts that has happened since…
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