# OPEC rotating chairman: oil price is satisfactory at 75 to 80 US dollars 11/05 Update MySheen

> OPEC's rotating president and Angolan oil minister Jose Maria Botelho de Vasconcelos said oil at $75 to $80 a barrel is a satisfactory price. He said OPEC's December 22 meeting in Luanda may keep output unchanged, though preparations to raise production are also under way. He added that the market is currently oversupplied.

- Date: 2026-11-05 · published 2026-11-05T00:14:30.265Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/80765-opec-rotating-chairman-oil-price-is-satisfactory-at-75-to-80-us-dollars-11-05
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Signals that OPEC+ may hold or raise supply in December while describing the market as oversupplied, which points to downward pressure on crude prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-07-07 | [OPEC+ is pumping more oil, but is it needed and at what price?](https://feedsoft.ai/events/23674-opec-is-pumping-more-oil-but-is-it-needed-and-at-what-price.md) | +2.2% | +0.7% |
| BRENT | 2019-04-28 | [Global oil prices slip after US demands OPEC to increase output](https://feedsoft.ai/events/8098-global-oil-prices-slip-after-us-demands-opec-to-increase-output.md) | -0.3% | -4.5% |
| BRENT | 2025-03-31 | [OPEC+ is boosting output in April. Here's what that could mean for oil prices. - Tiger Brokers](https://feedsoft.ai/events/25753-opec-is-boosting-output-in-april-here-s-what-that-could-mean-for-oil-prices.md) | -9.7% | -11.0% |
| BRENT | 2021-02-24 | [OPEC+ Considers Production Increase At March Meeting \| OilPrice.com](https://feedsoft.ai/events/48553-opec-considers-production-increase-at-march-meeting-oilprice-com.md) | -3.6% | -7.5% |
| BRENT | 2024-07-18 | [OPEC+ will stick to oil production hike plan as upcoming meeting, delegates report](https://feedsoft.ai/events/29162-opec-will-stick-to-oil-production-hike-plan-as-upcoming-meeting-delegates-report.md) | -3.6% | -5.2% |
| WTI | 2025-07-07 | [OPEC+ is pumping more oil, but is it needed and at what price?](https://feedsoft.ai/events/23674-opec-is-pumping-more-oil-but-is-it-needed-and-at-what-price.md) | +2.4% | +0.7% |
| WTI | 2019-04-28 | [Global oil prices slip after US demands OPEC to increase output](https://feedsoft.ai/events/8098-global-oil-prices-slip-after-us-demands-opec-to-increase-output.md) | -2.1% | -7.6% |
| WTI | 2025-03-31 | [OPEC+ is boosting output in April. Here's what that could mean for oil prices. - Tiger Brokers](https://feedsoft.ai/events/25753-opec-is-boosting-output-in-april-here-s-what-that-could-mean-for-oil-prices.md) | -10.5% | -9.7% |

## Sources

- mysheen.com: https://www.mysheen.com/a876159

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.