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Raising oil output by 0.6-0.8 mln bpd is not on OPEC+ agenda - source

The source adding "the US oil reserves have grown significantly recently"

MOSCOW, November 4. /TASS/. The agenda of the OPEC+ ministerial talks does not imply the discussion of increasing oil production by 600,000-800,000 bpd in December, a senior OPEC+ official told TASS.

Bloomberg reported earlier that the United States offered OPEC countries to go for a bolder increase in oil production in December and increase it by 600,000-800,000 bpd instead of the discussed 400,000 bpd. Two TASS sources involved in the negotiations did not hear that such a proposal could be brought up for discussion on Thursday. The third source also said that "formally the agenda of the meeting is very simple" and does not imply discussing alternative options for December.

"Meanwhile, nothing can be ruled out, and the proposal for a larger increase in production can be raised today. But I think it will most likely be rejected," the source said, adding "the US oil reserves have grown significantly recently".

OPEC+ countries are easing their restrictions on oil output by 400,000 bpd per month since August. Ministers meet every month to confirm this plan for the upcoming period.