MOSCOW, October 4. /TASS/. OPEC+ decisions to continue ramping up oil production by 400,000 barrels daily in November will be enough for the supply and demand balance on the market, Russian Deputy Prime Minister Alexander Novak said at the OPEC+ meeting.

"I would like to support the proposals consisting in continuation of production buildup in November in accordance with the earlier approved schedule of 400,000 barrels per day in general for OPEC and non-OPEC countries. From my point of view, this will be the very balancing moment making it possible for us to proceed with normalization of the market condition," Novak said.

The official also spoke in praise of the performance of the oil production limiting agreement in August. "As far as the performance in August is concerned, the level was 119%. This was the highest level throughout the agreement term," Novak said in the interview with the Rossiya-24 TV Channel after the meeting.