OPEC+ Set to Approve Minor Oil‑Output Hike Amid Glut Warnings

The OPEC+ group is preparing to approve a modest increase in oil production targets at a meeting on Sunday, according to three sources familiar with the discussions. Eight member states (including Saudi Arabia, Russia and United Arab Emirates) have reportedly agreed in principle to raise output by 137,000 barrels per day starting in December. The decision reflects a cautious approach after the group added more than 2.7 million barrels per day to production targets since April, equivalent to about 2.5 % of global supply. With rising fears of a supply glut, OPEC+ is slowing the pace of its increases even as new Western sanctions hamper Russia’s ability to ramp up production. #OPEC #OilProduction #EnergyMarkets #SupplyGlut #SlimScan #GrowthStocks #CANSLIM