Chatter of an OPEC+ oil supply increase won't go away

The rumours of a 500k barrel per day output increase from OPEC+ will not go away. The next meeting of the cartel is on December 4.

The Wall Street Wall Street Wall Street is part of the Financial District in New York City and one of the most iconic streets in the world. It is synonymous with US financial markets, and home to the world’s two largest stock exchanges by market capitalization – the New York Stock Exchange and NASDAQ.The area is also home, be it presently or historically to many other key exchanges. This includes the New York Mercantile Exchange, the New York Board of Trade, the New York Futures Exchange (NYFE), and the former American Sto Wall Street is part of the Financial District in New York City and one of the most iconic streets in the world. It is synonymous with US financial markets, and home to the world’s two largest stock exchanges by market capitalization – the New York Stock Exchange and NASDAQ.The area is also home, be it presently or historically to many other key exchanges. This includes the New York Mercantile Exchange, the New York Board of Trade, the New York Futures Exchange (NYFE), and the former American Sto Read this Term Journal cite OPEC+ delegates - Saudi Arabia denied a production increase plan due to unease with public discussion of the group's decision making before an agreement with Russia had been struck.

The Journal piece is here (gated):

The discussions are still early, and OPEC+ could decide to do nothing at its Dec. 4 meeting or even cut more, as Saudi Energy Minister Prince Abdulaziz bin Salman suggested in a statement Monday. Prince Abdulaziz denied there were discussions of a production increase of 500,000 barrels a day, which The Wall Street Journal had reported was the higher end of what delegates were talking about.

OPEC+ delegates said Prince Abdulaziz’s denial of talks reflected an unease with public discussion of the group’s decision-making before an agreement with Russia had been struck.