OPEC+ is close to an agreement in principle to make another modest supply increase for November, overcoming a difference in position between group leaders Saudi Arabia and Russia.

Key members of the alliance expect to ratify a decision to restart 137,000 barrels a day, the same volume scheduled for this month, the delegates said ahead of a video conference on Sunday. They asked not to be identified as the talks are private.

Russia, which has previously pushed for restraint in supply boosts, favored an adjustment that would help to defend prices while Saudi Arabia — more mindful of market share — supported a larger addition, one of the delegates said.

Oil prices traded near a four-month low on Friday, a reminder of the careful balancing act for the Organization of the Petroleum Exporting

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