OPEC+ will raise oil output by 137,000 bpd in November to address looming supply glut concerns. The group has increased oil output targets by over 2.7 million bpd this year. Brent prices fell below $65 per barrel amid predictions of a supply glut in Q4 and 2026. Russia and Saudi Arabia had differing views on output increase, with Russia favoring modest rise and Saudi Arabia seeking larger increase. OPEC sees global economic outlook as stable and market fundamentals as healthy. Oil prices may rise by $1 per barrel post-production increase. OPEC+ had peaked output cuts in March at 5.85 million bpd.

Read more at Yahoo Finance: OPEC+ opts for modest oil output hike as glut fears mount