The OPEC+ Joint Ministerial Monitoring Committee has kept the production policy unchanged, which will allow the group to start gradually increasing production at the beginning of December.
OPEC+ is currently reducing production by a total of 5.86 million barrels per day, or 5.7 percent of global demand, in a series of steps agreed since late 2022.
The group plans to boost output by 180,000 barrels per day starting in December, as part of a gradual rollback of the latest tranche of voluntary cuts over the next year. The increase was postponed from October after prices fell.
