Overview

• Core OPEC+ members will convene online at 1100 GMT Sunday to set November policy, with an increase expected but the size still unresolved, according to sources.
• Options discussed range from a 137,000 bpd rise to as much as 548,000 bpd, with Saudi Arabia advocating larger steps and Russia preferring the minimum.
• The group has already raised output targets by more than 2.5–2.6 million bpd this year as it unwinds multi‑year cuts to reclaim market share.
• Oil fell below $65 a barrel this week, roughly an 8% decline, as traders weighed the prospect of additional OPEC+ barrels and broader oversupply risks.
• OPEC called reports of a “massive” production surge inaccurate and urged against fueling speculation, even as analysts flag a potential glut.