OPEC+ Set to Hold Steady on Oil Output Targets

OPEC+ is set to maintain its oil production targets unchanged for November, according to Reuters. The group's seven core members - Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman - are scheduled to meet online on Sunday to discuss their quotas.

The move comes as the group works to restore exports disrupted by the Iran war. Actual production remains well below targets due to these disruptions, with the seven core producers pumping about 25 million barrels a day in August, according to OPEC data.

This would be another pause for OPEC+, following its decision to hold steady on October output targets after completing the reversal of a 1.65 million-barrel-a-day supply cut in September.