OPEC+ Keeps Oil Production Targets Steady Amid Energy Market Concerns
OPEC+ officials have agreed to keep oil production targets steady for November at their latest meeting. The OPEC+ Joint Ministerial Monitoring Committee met via videoconference on Sunday and reviewed current conditions in the oil market.
The committee reaffirmed the central role of the Declaration of Cooperation in supporting global energy market stability, noting that protecting international maritime shipping routes is crucial to ensuring continuous energy supplies.
They expressed concern over attacks targeting energy infrastructure, which can increase market volatility and weaken collective efforts under the Declaration of Cooperation. The panel reviewed crude oil production data for July and August 2026 and noted the commitment of OPEC members and participating non-OPEC oil-producing countries to the Declaration of Cooperation.