OPEC+ Reportedly to Consider Cutting Oil Output by Over 1 Million Barrels to Stem Slump in Prices

The Organization of Petroleum Exporting Countries and its allies (OPEC+) is scheduled to meet on October 5 to decide on November output levels. The alliance showed readiness to stabilize markets with a symbolic production cut of 100,000 barrels per day to bolster oil prices at its last meeting in September.