Market move● Neutral for Indian equities
Global Market: OPEC+ keeps November oil output steady as Brent tops $100
The brief
- Seven major OPEC+ producers agreed to keep November crude output unchanged
- Brent topped $100 a barrel as the Iran conflict disrupted supplies
- Higher crude prices may benefit Oil India but raise costs for Indian fuel retailers and consumers
- Aramco CEO says less than 10% of world oil inventory is available
- OPEC Holds November Quota at 31.01 Million Barrels Daily - Crude Oil Prices Today
- Oil prices ease slightly as G7 and Middle East crude supplies set to hit market
- Wartime Energy Shock: Why G7 Cracked Open 100 Million Barrels Of Emergency Fuel Reserve
- EXCLUSIVE: OPEC+ delays oil capacity review after Iran war disrupts expansion plans, sources say
OPEC+ holds November oil output targets steady
OPEC+ members were expected to keep output quotas steady, and the group agreed in principle to leave November targets unchanged. Gulf producers were pumping below target, while war-related export disruptions constrained supply.
Monday, 5 October
- Global Market: OPEC+ keeps November oil output steady as Brent tops $100