OPEC+ members are leaning towards another small production increase for December ahead of an online meeting on Sunday, Bloomberg reported, citing three delegates.
Key members of the group are discussing a hike of about 137,000 barrels a day — matching those made in October and November — according to the delegates, who asked not to be identified as the talks are private.
Bloomberg reported earlier in the week that the modest increase was viewed by delegates as the base-case scenario.
OPEC+ has raised output targets by more than 2.7 million barrels per day – about 2.5% of global supply – since April but slowed the pace in October and November to 137,000 bpd from larger increases amid predictions of a looming oversupply.
