Goldman Sachs: OPEC+ may raise November output by 140,000 bpd

Goldman Sachs expects OPEC+ to raise its oil production quotas by 140,000 bpd for November

Goldman Sachs expects OPEC+ to increase its oil production quotas by 140,000 barrels per day (bpd) for November, ahead of the group’s meeting scheduled for next Sunday.

Reuters reported over the past weekend, citing sources familiar with the matter, that OPEC+ may approve an additional output increase of at least 137,000 bpd starting in November, as rising oil prices encourage the group to further regain its market share.

This follows the group’s previous decision to raise oil production by 137,000 bpd in October.