Overview

• Eight OPEC+ producers are set to decide Sunday on another November supply increase, with sources saying Saudi Arabia favors 274,000–548,000 bpd while Russia prefers a 137,000 bpd repeat.
• OPEC publicly rejected reports of a half‑million‑barrel hike as inaccurate, highlighting the gap between market chatter and the group’s official position.
• Brent and WTI are heading for weekly losses of roughly 7–8% despite a modest Friday bounce, with Brent near $64–65 and WTI around $61.
• Analysts note that announced quota hikes have recently translated to only about 75% in actual barrels, as compensation cuts and limited spare capacity constrain deliveries.
• Iraq has proposed immediate compensation cuts of about 130,000 bpd that could offset some headline increases, while banks such as Goldman Sachs expect a smaller ~140,000 bpd rise.