OPEC+ Keeps Oil Output Policy Unchanged Amid Ongoing Disruptions
OPEC+ is set to keep its oil output policy unchanged for October at an upcoming meeting.
The decision comes as ongoing disruptions limit OPEC+'s influence over prices and market share, particularly due to the Iran war disrupting oil exports through the Strait of Hormuz.
Despite agreed production increases, OPEC+ still produces far below its targets because of the war. The group made up of the Organization of the Petroleum Exporting Countries and its allies, including Russia, has another layer of production cuts in place until the end of 2026.
The meeting will likely focus on reviewing members' oil production capacity to set 2027 output baselines, which form the basis for quotas. This debate is expected to happen later in 2026, and as a result, OPEC+ is likely to pause its output increases for the fourth quarter.