OPEC+ Reconfirms Decision To Increase Oil Output By 400,000 BPD In December

The OPEC+ will increase oil output by 400,000 barrels per day in December and thus made a decision not to accelerate production growth, according to a communique adopted after the Thursday meeting

MOSCOW (UrduPoint News / Sputnik - 04th November, 2021) The OPEC+ will increase oil output by 400,000 barrels per day in December and thus made a decision not to accelerate production growth, according to a communique adopted after the Thursday meeting.

"Reconfirm the production adjustment plan and the monthly production adjustment mechanism approved at the 19th OPEC and non-OPEC Ministerial Meeting and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of December 2021, as per the attached schedule," the communique read.

The alliance also decided to "hold the 23rd OPEC and non-OPEC Ministerial Meeting on 2 December 2021."