Commofities Buzz: OPEC+ to raise oil output by 137,000 bpd in November

OPEC+ said it will raise oil output by 137,000 barrels per day in November, matching October?s modest increase amid ongoing concerns over a global supply glut. The group, including OPEC, Russia, and smaller producers, has increased targets by more than 2.7 million bpd this year to reclaim market share from rivals like US shale. Oil prices settled higher on Friday but still posted a weekly loss of over 8% following news of the potential supply increase.

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