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OPEC+ agreed to keep oil production targets steady for November in a brief online meeting of seven core members. Gulf producers are pumping well below targets because war-related export disruptions have held exports at 60% to 80% of normal.
Brent settled at $102.25 a barrel, and WTI at $91.11, after G7 diesel and crude reserve releases.
Unchanged targets with exports constrained leave the market tight, so supply stays limited even as strategic stock releases ease near-term fuel prices.
cnbc.comReutersOct 4, 2026After 175 past neutral policy events, Crude Oil (Brent) moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% over 20.
After 187 past neutral policy events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% over 20.
After 27 past neutral policy events, ULSD / Diesel moved a median -1.4% over 5 sessions (41% higher; middle half -4.3% to +2.6%), and -4.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
