OPEC+ is reportedly considering increasing production again in November to continue regaining market share.

According to informed sources, as OPEC+ continues to pursue a strategy to reclaim global market share, the organization may increase oil production again in November. The sources said that the alliance led by Saudi Arabia will hold an online meeting on October 5 to consider at least increasing production by the same amount as the 137,000 barrels per day planned for October. Due to the confidential nature of the discussions, the sources requested anonymity. Despite warnings from the entire oil industry of an impending oversupply, the Organization of the Petroleum Exporting Countries and its allies have begun gradually restoring previously suspended production, reaching 1.66 million barrels per day. So far, the market has absorbed the alliance's increase in oil supply without significant fluctuations, and Brent crude futures have risen by 3% this month.