⁍ OPEC+ delegates discussed the slow demand recovery in the fourth quarter of this year, when seasonally it was expected to rise.

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⁍ The group had 102% compliance with its production cuts in September, two OPEC+ sources told Reuters.

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⁍ OPEC Secretary General Mohammad Barkindo told a conference that demand was recovering at a slower pace than expected.

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– A second wave of coronavirus has hit several countries, including the US, killing more than two dozen. Now the Organization of the Petroleum Exporting Countries and Russia are discussing whether to increase oil production, Reuters reports. OPEC Secretary General Mohammad Barkindo told a conference Thursday that demand for oil is recovering at a slower pace than expected. “We have to be realistic that this recovery is not picking up pace at the rate that we expected earlier in the year,” he said. “Demand itself is still looking anaemic.” OPEC and Russia have been reducing production since January 2017 to support prices and reduce inventories. They are currently curbing production by 7.7 million barrels per day, down from 9.7 million bpd. They are due to taper their production cuts by 2 million bpd in January. But Thursday’s bearish demand outlook and rising supply from Libya mean OPEC+ could roll over existing cuts into next year and delay easing the reductions. The group meets on Nov. 30 and Dec. 1 to set policy.