Group 1 - OPEC is meeting this week to discuss oil output for November, with reports suggesting a potential production hike of approximately 137,000 barrels per day [2][3] - The market is currently pricing in the likelihood of another production hike, despite speculation and lack of confirmed discussions regarding OPEC's plans [3] - Oil prices are under pressure due to the anticipation of OPEC's decisions, with WTI and Brent crude experiencing declines of about 1.5% and 1.25% respectively [1] Group 2 - The reintroduction of sanctions on Iran is impacting the market, with the United Nations imposing new measures affecting crude oil and natural gas [4] - The market is weighing the potential OPEC production hike against the risks associated with sanctions and regional tensions, with Brent crude prices stabilizing around $65 to $70 per barrel [4]

What are you expecting to come out of this meeting. Is a production hike a done deal. You know, nothing is a done deal when it comes to Opec+ and they have the capacity to surprise the market.But what's widely expected and what my colleagues have reported is that we're seeing a 411,000 barrel a day increase over in the next month. Now, that is three times more than the plans at the moment. But they've done these kind of super sized increases over the last over the last three months.So this will be the fourt ...