Oil Traders Split on Whether OPEC+ Will Hike Supply in December
- Sixteen of 30 expect group to delay increase again: survey
- Oil market faces renewed glut as Chinese demand falters
World oil inventories have been depleted following summer driving demand in the US and elsewhere.
Photographer: Andrey Rudakov/Bloomberg
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Oil traders are divided over whether OPEC+ will proceed with plans to restore production in December, as crude prices falter amid a fragile economic outlook.
The alliance led by Saudi Arabia and Russia is due to begin a sequence of monthly output increases with a hike of 180,000 barrels a day in December, as it gradually revives supplies halted since 2022.