Latest figures show major oil producers collectively pumped 43.06 million barrels daily last month—a modest uptick of 43k bpd from October's levels. The bump aligns with the cartel's earlier decision to gradually ease production curbs.

Why it matters for markets: Crude supply shifts often ripple through inflation expectations and central bank policy calculus, which ultimately shapes how capital flows between traditional assets and alternative stores of value. When energy costs stabilize or decline, it can alter the macro backdrop for risk-on trades.

The production adjustment came after months of deliberation among member states about balancing revenue needs against price stability. While the increase seems small in percentage terms, even incremental changes in global oil supply can influence everything from manufacturing costs to consumer spending power—factors that indirectly affect appetite for speculative assets.