Oct 4, 2021 - Energy & Environment

OPEC+ gathers to discuss oil output amid higher prices

Data: FactSet; Chart: Axios Visuals

OPEC+ holds its latest monthly meeting today to discuss the ongoing easing of joint supply curbs as demand returns from the pandemic and prices have been on an upward trend.

What's next: Via Reuters this morning, "OPEC and its allies are likely to stick to their existing agreement to add 400,000 barrels per day (bpd) of oil to the market in November, three OPEC+ sources said on Monday, despite consumer pressure for more supply to cool a red hot market."

What we're watching: Whether rising oil prices — alongside the natural gas price surge and supply scramble, as well as coal supply woes in India and China — will boost or sap energy transition efforts at the UN climate summit.

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