OPEC Oil Output Boost in November Again Falls Short of Target

OPEC Oil Output Boost in November Again Falls Short of Target
A 3D printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture on April 14, 2020. Dado Ruvic/Illustration/Reuters
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LONDON—The increase in OPEC’s oil output in November has again undershot the rise planned under a deal with allies, a Reuters survey found on Tuesday, bringing a lack of capacity in some producers into focus ahead of a policy meeting this week.

The Organization of the Petroleum Exporting Countries (OPEC) pumped 27.74 million barrels per day (bpd) in November, the survey found, a rise of 220,000 bpd from the previous month but below the 254,000 increase allowed under the supply deal.