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Motilal Oswal Report
Organization of the Petroleum Exporting Countries plus in its October 2021 meeting reaffirmed its stance of continuing to easing production by a mere 0.4 million barrels of oil per day per month.
It would review the oil market environment at its next monthly meeting on November 04, 2021.
Brent prices continue to record an uptick (and have reached $82/barrel of oil over the last one week from an average of $74/bbl in September 2021) owing to power outages in China, further aided by substitution demand from gas and coal, for which the prices are all at multi-year highs currently.
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