Russia’s Novak says OPEC+ decision will help to stabilize oil market

Russian Deputy Prime Minister Alexander Novak said that the decision by the OPEC+ group of leading oil producers to increase their combined output by 400,000 barrels per day (bpd) in November will help to stabilize the market.

OPEC+ agreed on earlier on Monday to stick to an existing pact to increase oil output by 400,000 bpd in November despite consumer calls for a bigger increase to counter surging prices that threaten an economic recovery from the pandemic.
Source: Reuters (Reporting by Vladimir Soldatkin Editing by David Goodman )