OPEC+ Holds November Oil Output Targets Steady
OPEC+ will hold oil output targets steady for November, extending a pause after months of gradual increases, according to sources cited by multiple outlets.
What happened
OPEC+ decided to keep its oil production targets unchanged for November, maintaining September 2026 required production levels.123
The move extends a pause in output increases that began in October, following six months of gradual increases earlier in the year.3
The group finished unwinding 1.65 million barrels per day of voluntary cuts from 2023 in September, and is keeping a further two million bpd of cuts agreed in 2022 in place until the end of the year.3
The seven countries will continue holding monthly meetings to review market conditions.1
The Moscow Times noted that most of the output target increases made during 2026 stayed on paper, meaning they were largely unimplemented.2
Key points
What the coverage leaves out
- None of the outlets reviewed reported reactions from oil markets or price movements following the decision.
- None of the outlets reviewed detailed the reasoning behind the decision to pause increases.
Why it matters
What to watch
- Further monthly OPEC+ meetings to review market conditions, as noted by TASS.
- Whether the group resumes unwinding the remaining two million bpd of 2022 cuts after the end of the year, per The National.
Sources (3)
Every outlet we drew on, grouped by where it is based. Read the originals for the full reporting.
Europe
- 2The Moscow TimesNLIndependent
OPEC+ Set to Keep November Oil Output Targets Steady, Sources Say
Russia & Eurasia
- 1TASSRUState-controlled
Middle East & Turkey
- 3The NationalAEPrivate