BREAKING: OPEC denies Reuters report on production increase 🔔OIL tries to recover

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The Organization of the Petroleum Exporting Countries (OPEC) Secretariat issued a statement today, denying Reuters report, which claimed that OPEC and its allies are planning to increase crude oil production in November by 500,000 barrels per day on Sunday meeting. The OPEC decided commented:

"At present, discussions among the relevant Ministers concerning the upcoming meeting have not yet commenced. Consequently, the OPEC Secretariat strongly urges media outlets to exercise accuracy and responsibility in their reporting in order to avoid fueling unnecessary speculation in the oil market".

The oil price recovered after strong loses earlier today, leading the Brent at 62,6 USD per barrel again.

Source: xStation5

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