OPEC+ holds oil output steady for December despite high prices
OPEC+ holds oil output steady for December despite high prices
The OPEC+ group has decided not to increase oil production in December, despite high world prices and a continuing supply deficit, Ateo Breaking reports. After a meeting on November 1, seven participants in the agreement, including Russia and Saudi Arabia, kept their current quotas.
Russia's limit stays at 9.949 million barrels per day, and Saudi Arabia's at 10.478 million. The decision matters for every oil-importing country in the Turkic world: holding output steady while prices are high keeps fuel costs elevated, and it leaves the market tight going into winter.
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