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OPEC+ set to keep oil output policy unchanged on Sunday, sources say
The group will delay new quota decisions as members review production capacity before setting 2027 baselines, sources said.
- On Sun, Sep 6, OPEC is set to keep oil output policy unchanged for October, as two people familiar with the discussions told Reuters the group needs to agree on new quotas.
- Before the group decides how to unwind production cuts and return output to the market, the 21-country Organization must review members' oil production capacity to set 2027 output baselines.
- Another layer of production cuts remains in place, covering most members of the 21-country group until the end of 2026. These cuts form the basis for upcoming quota decisions.
- Despite agreed increases including a phased rollback of a 1.65 million-barrel-per-day supply cut, the Organization of the Petroleum Exporting Countries and Russia produce far below targets because of the war.
- Unlike in the past, supply decisions have limited market impact as ongoing conflict involving Iran continues to disrupt oil exports through the Strait of Hormuz. This constrains OPEC's influence over prices.
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67 Articles
Market uncertainty limits oil cartel's ability to influence prices and shifts focus to 2027 production quota decisions - Brent at $96
·Marousi, Greece
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The decision on production in October was taken at a digital conference between the ministers of Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman.
·Lisboa, Portugal
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Saudi Arabia and six states of the OPEC Bliss Alliance kept oil production quotas unchanged during their Sunday meeting, as expected.
·Syrian Arab Republic (the)
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Last July, the joint production of the 21 countries of the alliance was 42 mbd, that is 40% of what the world will consume every day during 2026.
Coverage Details
Total News Sources67
Leaning Left3Leaning Right14Center5Last UpdatedBias Distribution63% Right
Bias Distribution
- 63% of the sources lean Right
63% Right
14%
C 23%
R 63%
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