Opec+, the oil exporters bloc behind historic production cuts, agreed to increase output by 400,000 barrels per day in December and will not meet demands from the US to bring on additional supply. The group, headed by Saudi Arabia and Russia, stuck to its earlier agreement to bring a total supply of 2 million bpd back to markets by the end of the year. The group said it was reconfirming “the production adjustment plan and the monthly production adjustment mechanism approved at the 19th Opec and non-Opec ministerial meeting and the decision to adjust upwards the monthly overall production by 400,000 bpd for the month of December 2021″. NN: Canada is adding barrels from their tar sands fields, US is adding barrels from the Oklahoma, Dakotas and Permium basin fracking wells. And off shore is gearing up. 500,000 BPD here and 400,000 BPD their and a million BPD everwhere and you end up with a oversupplied market by spring