OPEC+ to raise oil production by 137,000 barrels per day in November

A group of countries that are part of the OPEC+ alliance of oil-exporting countries has agreed to a small boost in oil production, citing a steady global economic outlook. The group said after a virtual meeting on Sunday that it will raise oil production by 137,000 barrels per day in November, they same amount it announced for October. In a statement the group said the move was due to “a steady global economic outlook and current healthy market fundamentals.”