OPEC+ is said to weigh another production hike in November

[Entrance signage to the headquarters of the Organization of the Petroleum Exporting Countries in Vienna]
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OPEC and its partners are expected to raise oil output again next month as part of their ongoing effort to recapture market share, Reuters reported Sunday, citing people familiar with the discussions.

At its Oct. 5 online meeting, the Saudi-led group will consider a supply increase at least equal to the 137,000 barrels a day already slated for October. The alliance has been gradually restoring roughly 1.66 million barrels a day of production that was previously curtailed, even as industry voices warn of a potential glut.

So far, markets have absorbed the additional barrels with little disruption—Brent crude is up about 3% this month. Still, the October increment was smaller than earlier hikes, and actual supply growth may fall short because some members lack capacity to pump more.

The meeting will come just weeks before Saudi Crown Prince Mohammed bin Salman visits Washington to meet President Donald Trump, who has pressed for cheaper fuel to curb inflation and support lower interest rates.

Delegates cautioned that no final decision has been reached and talks could shift before Sunday’s gathering. Reuters first reported expectations of another increase.

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