OPEC+ Keeps Oil Output Targets Steady Amid Ongoing Disruptions

OPEC+, comprising the Organization of the Petroleum Exporting Countries and its allies, is set to keep oil production targets steady for November. According to three sources close to the matter, Gulf OPEC+ producers have been pumping below output targets due to ongoing disruptions from the US-Israeli war on Iran.

The war has also delayed the group's output capacity review, which is crucial in determining members' 2027 output quotas. This uncertainty has thrown estimates of future production potential into question, industry sources say.

OPEC+ has agreed to keep targets steady for November, but most of the increases from earlier this year have stayed on paper due to the conflict.