OPEC+ Members Reportedly Agree to Maintain December Oil Output Targets

OPEC+ members have reportedly agreed in principle to maintain their December oil production targets, with the alliance expected to defer further supply policy changes until next year. This decision would preserve the group's current production policy as members prepare for 2027 quota negotiations. Brent crude's January contract settled at $113.43 a barrel on Friday, October 30, after the December contract expired, and Brent rose 13.6% and WTI 15.2% in October, marking a fourth straight monthly gain.