OPEC+ says no discussion on raising quotas after November: Novak

02:36 PM (Mecca time) Argaam
Alexander Novak,Russian Deputy Prime Minister

Alexander Novak, Russian Deputy Prime Minister

OPEC+ did not discuss increasing quotas after November, Russian Deputy Prime Minister Alexander Novak said on Tuesday.

 

The Organization of the Petroleum Exporting Countries plus Russia and some smaller producers - known as OPEC+ - decided to increase its collective oil production by 137,000 barrels per day (bpd), starting in November.

 

The group explained in its statement that this comes in light of the stable global economic outlook and the current good market fundamentals, reflected in the decline in oil inventories.

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