OPEC

OPEC Outages Calm Nerves Ahead Of Crucial Late-November Meeting

Crude oil production by OPEC’s 12 members fell in October to 30.58mn b/d, a 540,000 b/d decline from an upwardly revised 31.12mn b/d in September, according to a MEES survey. The group has maintained production above its collective target of 30mn b/d despite weaker oil prices and forecasts for sharply lower demand for OPEC crude heading into the first quarter of next year. Though much of the seeming show of...