Oil Rises as OPEC+ Agrees to Pause Output Hikes Early Next Year
Barronsยท2025-11-03 11:16
Group 1 - Oil prices are rising as OPEC+ has agreed to pause output hikes for the first quarter of next year, alleviating concerns about a potential supply surplus [1][2] - Brent crude increased by 0.3% to $65 per barrel, while WTI rose by 0.4% to $61.21 per barrel [2] - OPEC+ members decided to raise production by 137,000 barrels per day for December, followed by a pause in increases from January to March, reflecting expectations of a seasonal demand slowdown [2][3]