FX

Iraqi Minister: OPEC+ to match oil demand with planned output boost, Nov 4 meeting eyed

Iraqi Minister Ihsan Abdul Jabbar said late Saturday, OPEC and its allies (OPEC+) will be able to meet the oil demand by its planned increase to the monthly oil output, per Bloomberg.

Key quotes

“Rising prices for natural gas and coal in Asia and Europe could lead to a rise in oil demand this winter.”

“Monthly increases of 400,000 barrels a day will eventually help stabilize the oil market.”

His comments come days ahead of the OPEC+ meeting scheduled on November 4.

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