Goldman Sachs expects OPEC+ to raise oil production quotas by 140,000 barrels per day for November, it said on Tuesday, ahead of the group’s meeting on Sunday.
It said, however, a larger production hike was also plausible, citing factors including an only modest increase in OECD commercial stocks in Europe and Asia. Total inventories remain slightly below year-ago levels and U.S. crude inventories are at an eight-month low.
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