Oil Rises as OPEC+ Pauses Output Hikes, BP's Partial US Divestment | The Opening Trade 11/3

Oil rose after OPEC+ signaled that it’ll pause output increases next quarter, following a modest hike for next month. The Organization of the Petroleum Exporting Countries and allies said on Sunday they would raise output by 137,000 barrels a day in December, matching expectations. The group will then take a January-to-March hiatus. BP agreed to divest stakes in US shale assets to Sixth Street for $1.5 billion. Funds managed by the US investment firm will purchase non-controlling interests in the Permian and Eagle Ford midstream assets, BP said in a statement. Elsewhere in markets, Ryanair slipped despite a quarterly profit beat after a prolonged rally this year. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Kriti Gupta, Guy Johnson and Lizzy Burden. (Source: Bloomberg)