OPEC+ has decided to ramp up oil production by 137,000 barrels per day starting next month, with a statement saying that the global economic outlook is stable, oil inventories are low, and the market fundamentals are healthy.
As the production hike was less than expected, oil prices trended upward during electronic trading hours. Brent oil futures for December delivery climbed by USD0.69 or 1.1% to USD65.22, while New York oil futures for November delivery increased by USD0.65 or 1.1% to USD61.53.
Repost: AAStcoks