OPEC+ oil producers set to keep output targets steady at Sunday meeting: Reuters
Delegates said the group will likely ratify its roadmap as millions of barrels of Middle East output remain shut in.
- OPEC and allies led by Saudi Arabia and Russia will likely maintain crude production quotas for November at their online meeting this Sunday, October 4, according to two delegates.
- Ongoing disruption from the Iran war has forced Gulf producers to boost exports while rationing output, though most remain pumping below their production targets.
- OPEC data showed seven core producers pumped 25.0 million barrels per day in August, up 630,000 from July yet still roughly 5 million barrels below pre-war levels.
- The Joint Ministerial Monitoring Committee will also meet on Sunday to review market conditions as the group shifts focus toward 2027 quota negotiations.
- Future policy hinges on a capacity review due soon from consultant DeGolyer and MacNaughton, which will determine 2027 baselines and shape plans to unwind remaining production cuts.
13 Articles
13 Articles
OPEC+ oil producers set to keep output targets steady at Sunday meeting, sources say
OPEC+ oil-producing countries are likely to keep their oil production targets steady for November when they meet on Sunday, two sources with knowledge of the matter told Reuters.
The OPEC+ countries are expected to adhere to the plan to maintain their oil production quotas for the following month this weekend, as reported by Bloomberg with reference to two delegates.
Key OPEC+ countries plan to maintain existing oil production quotas in November during the upcoming weekend meeting, learned Bloomberg. Key OPEC+ stakeholders intend to maintain existing oil production quotas in November without change. The countries led by Russia and Saudi Arabia, which formally completed the 2023 cut-off, plan to ratify the existing road map, transfer Bloomberg with reference to sources. The production of millions of barrels o…
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