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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.
Brent added $1.50 (1.32%) and returned to $115.59 per barrel, WTI rose $1.47 to $101.37. The trigger - a statement by Yemeni Houthis that they hit Ras Tanura, the kingdom's largest oil refinery at 550,000 barrels per day, with a ballistic missile. Riyadh has not confirmed the strike.
At 05:00 Moscow time, China's National Bureau of Statistics reported economic growth of 4.5% in the third quarter against expectations of 4.4%. The data came in better than forecast on almost all counts, and risk appetite lifted Bitcoin, Nasdaq futures and Asian stocks.
