OPEC+ to Maintain Quotas Amid Middle East Conflict Disruptions

OPEC+ producers are set to maintain existing oil production quotas in November as the Middle East conflict continues to restrict output from several members, according to Bloomberg.

A group of seven major producers led by Saudi Arabia and Russia has agreed to keep targets unchanged next month, delegates said ahead of a video conference where the decision is expected to be finalized.

The move would follow OPEC+'s existing production roadmap after the alliance previously signaled that further quota increases would be paused through the end of 2026.

Futures have been moving back towards $100 a barrel amid disruptions caused by the Iran war, with diesel prices reaching records at the pump.