OPEC+ Freezes Output Policy as Capacity Review Looms

OPEC+ has announced that it will maintain its oil output policy unchanged at this Sunday's meeting, keeping production levels flat for October 2026.

The alliance had been gradually unwinding voluntary cuts introduced in 2023, with the final piece of the rollback completed in September 2026. This increase of 188,000 barrels per day (bpd) caps a phased return of withheld barrels.

The broader set of OPEC+ cuts, totaling roughly 2 million bpd, remains firmly in place through December 31, 2026. The upcoming meeting is expected to be largely procedural, with the real action happening behind the scenes as a capacity review feeds into fourth-quarter negotiations over 2027 production quotas.