OPEC+ Shocks Market with Oil Output Hike – Analysts Warn of Glut
Modest November Hike Approved In a virtual meeting on Oct. 5, the OPEC+ alliance (the Organization of the Petroleum Exporting Countries plus Russia and other allies) confirmed that a select group of eight producers – Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman – will raise production by 137,000 bpd in November 2025 wokv.com wokv.com. This boost matches the increase applied in October and is relatively small by historical standards. OPEC+ described the move as a response to “a steady global economic outlook and current healthy market fundamentals,” noting that output adjustments may be paused or reversed