OPEC+ Fails to Shake Up Oil Output Targets Ahead of Sunday Meeting

OPEC+ member nations are expected to maintain their current oil production targets when they meet online on Sunday, according to Reuters. The meeting will involve seven core members: Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman.

No final decision has been made yet, but the sources suggest that the output targets for November are likely to remain unchanged. This comes as some member countries have increased exports after months of disruptions caused by the Iran war.

These countries, however, continue to pump oil at levels below their assigned output targets. The move is seen as an attempt to balance supply and demand in the global market.