In principle, OPEC+ agreed to keep the December oil production target unchanged. Production policies are not expected to be further adjusted until next year. The organization is scheduled to hold an online meeting on Sunday. Affected by the blockage of Iran's war exports, the actual production of the Gulf oil producers is still far below the target level. The organization will need to complete a capacity assessment in the fourth quarter before determining the 2027 baseline and subsequent quotas.

In principle, OPEC+ agreed to keep the December oil production target unchanged. Production policies are not expected to be further adjusted until next year. The organization is scheduled to hold an online meeting on Sunday. Affected by the blockage of Iran's war exports, the actual production of the Gulf oil producers is still far below the target level. The organization will need to complete a capacity assessment in the fourth quarter before determining the 2027 baseline and subsequent quotas.