OPEC+ Stays Course on Oil Output Amid Strait of Hormuz Disruptions

OPEC+ is set to maintain its oil output policy at a meeting on Sunday, defying pressure from rising oil prices. The decision would mean that the group will pause further production increases for the fourth quarter of 2026.

The Iran war has disrupted oil exports through the Strait of Hormuz, making it difficult for some OPEC+ members to produce and export as much oil as their quotas allow.

Oil prices have already been pushed higher by supply risks, with Brent crude recently climbing above $95 a barrel and US West Texas Intermediate crude moving above $90. The current crisis has made the group's influence less predictable, as physical supply disruptions now play a major role in determining oil prices.