OPEC+ Agrees to Maintain November Oil Production Targets

OPEC+ has decided to keep oil production targets steady for November, according to sources close to the matter and statements from the producer group following a meeting on Sunday. This decision aligns with market expectations that further adjustments to output policy are unlikely until next year. Gulf OPEC+ producers have been pumping below targets due to ongoing export disruptions from the U.S.-Israeli war on Iran, with exports fluctuating at 60-80% of normal levels in recent months. The conflict has also delayed the group's output capacity review, which is crucial for determining 2027 output quotas.