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OPEC+ Quotas Likely Unchanged but Considering Cut


OPEC+ is likely to keep oil output quotas unchanged for October at a meeting on Monday according to three OPEC+ sources as reported by Reuters.

  • They report some sources would not rule out a production cut to bolster prices.
  • Uncertainty over the OPEC+ decision is helping to support crude outright futures and spreads markets.
    • Brent NOV 22 up 2.2% at 94.39$/bbl
    • WTI OCT 22 up 2.3% at 88.6$/bbl
    • WTI-Brent down -0.13$/bbl at -6.29$/bbl
    • Brent NOV 22-DEC 22 up 0.31$/bbl at 1.35$/bbl
    • Brent DEC 22-DEC 23 up 1.28$/bbl at 9.9$/bbl

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