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Home / Business and Economy / OPEC+ Sticks to Modest Oil Production Hike as Prices Fluctuate

OPEC+ Sticks to Modest Oil Production Hike as Prices Fluctuate

6 Oct

•

Summary

  • OPEC+ agrees to raise oil production by 137,000 barrels per day in November
  • Oil prices rise but remain down on the week after potential OPEC+ increases
  • Analysts concerned that supplies may surpass demand due to strong output from the Americas
OPEC+ Sticks to Modest Oil Production Hike as Prices Fluctuate

On October 6, 2025, the OPEC+ group announced that it would raise oil production by 137,000 barrels per day in November, the same total it had announced for October. This decision came as a relief to the market, as there were concerns that OPEC+ might opt for a more significant production increase.

The news has had a mixed impact on oil prices. West Texas Intermediate (WTI) crude oil rose 1.31% to $61.68 a barrel, while Brent jumped 1.22% to $65.32 a barrel. However, prices are still down on the week, with WTI slipping 2.79% and Brent declining 3.90% over the past five days.

The OPEC+ group cited a "steady global economic outlook and current healthy market fundamentals" as the reasons behind its decision. However, a number of analysts, including those from the International Energy Agency, remain concerned that supplies are set to surpass demand, partly due to strong output from the Americas.

The next OPEC+ meeting is scheduled for November 2, 2025, and the group will likely continue to monitor the market closely in the coming weeks and months.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
OPEC+ agreed to raise oil production by 137,000 barrels per day in November, the same total it had announced for October.
Oil prices rose on the news, with WTI crude oil up 1.31% and Brent up 1.22%. However, prices are still down on the week, with WTI slipping 2.79% and Brent declining 3.90%.
Analysts, including those from the International Energy Agency, are worried that supplies may soon surpass demand, partly due to strong output from the Americas.

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