Live updates: promos, term changes, new challenges, payouts.
The OPEC+ alliance (an association of oil-exporting countries led by Saudi Arabia and Russia that regulates production volumes and thereby influences world prices) decided on November 1 not to change production quotas for December. The next meeting is on November 29.
Oil gained $2.63 per barrel on Friday after the fourth tanker attack in the Strait of Hormuz this month. Today seven OPEC+ countries are meeting online, but according to Reuters, everything is decided in advance for December: production will be left as is.
The US President invoked the Defense Production Act - a 1950 act passed during the Korean War. The American oil industry has been officially declared vital to national defense, and this opens a direct path for the Pentagon to finance its development.
