OPEC Discusses 750,000 – Barrel – a – Day Output Increase

Nov. 27 (Bloomberg) — The Organization of Petroleum Exporting Countries is discussing a 750,000-barrel-a-day increase in production because of concerns about the effect of oil prices on the U.S. economy, Dow Jones Newswires reported, citing an OPEC delegate it didn’t identify.

There is “a lot of concern” about a possible U.S. recession with oil prices at current levels, Dow reported the delegate as saying.


OPEC minister will meet in Abu Dhabi on Dec. 5 to agree production targets.