Report: OPEC raises production quota by 1.5 mln bpd

MOSCOW, Dec 4 (PRIME) – OPEC will raise its oil production quota by 1.5 million barrels per day to 31.5 million barrels per day, excluding Indonesia which is to enter the cartel, Bloomberg reported on Friday quoting a participant of the meeting.

Prior to the announcement, the Brent oil price lost 1.46% to U.S. $43.21 per barrel as of 5.02 p.m. Moscow time, according to the ICE exchange.

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