When Opec+ ministers meet on 4 October, they will have to decide on whether to adhere to their roadmap of easing output cuts by 400,000 b/d in November. With Brent briefly breaking above $80/B this week, pressure is mounting on the alliance to increase production by more than just 400,000 b/d. White House press secretary Jennifer Psaki said this week that recent oil price gains are of concern to the US, and acknowledged that discussions have been held with Opec over the issue.
One option for Opec+ would be to double up and agree to ease the cuts by 800,000 b/d for November, potentially then pausing the process in December. This could take some heat out of the market, while more cautious members wary of a potential looming oversupply would be reassured by the knowledge that many Opec+ members have only limited (if any) capacity to increase output in any case. (CONTINUED - 150 WORDS)