The Organization of Petroleum Exporting Countries, OPEC’s crude production held steady in October after the group pledged a symbolic cutback to stabilize market sentiment. The Organization increased daily output by 30,000 barrels to 29.98 million barrels in October, according to a Bloomberg survey. It had agreed to make a token reduction of 100,000 barrels a day rescinding an increase made the previous month. With so many members already lagging behind their targets few needed to do any actual cutting, and overall output was well below the group’s target even after…
Read MoreOPEC Oil Output Hits 929.38m Barrels In October
