Opec+ to Hold Steady on Oil Production Targets Amid War Disruptions

Opec+ members are set to maintain oil production targets at steady levels for November, as the group's meeting on Sunday is expected to decide. This decision comes amid ongoing export disruptions from the US-Israeli war on Iran, which has been affecting Gulf Opec+ producers.

According to sources close to the matter, these producers have been pumping below their target levels due to the continued impact of the conflict. Exports have fluctuated at 60-80% of normal levels in recent months, causing a significant reduction in output.

The war has also delayed the group's output capacity review, which is crucial for determining members' 2027 output quotas. Industry sources say that estimates of future production potential are now uncertain due to the conflict.