OPEC+ to Maintain Oil Output Policy in Upcoming Meeting
OPEC+ is expected to maintain its oil output policy unchanged for October during a meeting on Sunday, according to sources familiar with the discussions. The decision comes amid ongoing disruptions caused by the Iran war affecting exports through the Strait of Hormuz, which has limited OPEC+'s influence over prices and market share. The group previously agreed in August to increase production as part of a phased rollback from supply cuts initiated in 2023. However, current output remains below targets due to ongoing conflicts. OPEC+ still holds additional production cuts until the end of 2026 but must first assess members' oil production capacity before setting new quotas for 2027. The group is likely to pause further output increases in Q4 as it awaits a review that will determine future baselines and market strategies, with this debate expected later in 2026.
Topics: energy market global oil supply oil output policy OPEC+