OPEC+ members are set to approve another small output hike for December when they meet online on Sunday, according to delegates, as the group cautiously continues reclaiming market share.
Key members led by Saudi Arabia are expected to ratify the revival of roughly 137,000 barrels a day of halted production at the meeting that starts at 5 p.m. Vienna time, the delegates said. The level would maintain the pace of small increases already announced for October and November. The group reached an agreement in principle on the plan ahead of the meeting, one of the delegates said.