OPEC+ agrees to delay December oil output increase ...Middle East

OPEC+ announced on Sunday that it will delay the planned December voluntary output increase by one month.Last week there was a report that this was on the table so it's not a big surprise. If anything, the oil market could be disappointed that it wasn't extended for more than a month.I expect any market reaction to be limited with the focus on the US election and China stimulus announcements that are expected Nov 8. Brent closed Friday at $73.10.Here is the statement:The OPEC Secretariat noted that the eight OPEC+ countries Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, which previously announced additional voluntary adjustments in April and N

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OPEC+ agrees to delay December oil output increase ...Middle East

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