OPEC+ Leaves Output Policy Unchanged Amid Ongoing Disruptions

OPEC+ kept its oil output policy unchanged for October at a meeting on Sunday. The decision was made by seven core OPEC+ members, including Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman.

The group needs to agree on new quotas before deciding its next output steps. This comes as the Iran war continues to disrupt oil exports through the Strait of Hormuz, limiting OPEC+'s influence over prices and market share.