◂ Event Timeline

Sep 7, 2026POLICYGlobal

OPEC 7 Reveal October Output Plan

OPEC+ seven countries kept required production for October at levels identical to September, with published targets for Saudi Arabia, Russia, Iraq and others. The statement reaffirmed commitment to full conformity with the Declaration of Cooperation.

WHY IT MATTERS

Flat quotas mean no new supply is added, so crude prices stay supported while actual output lags targets.

AFFECTSBRENT▲WTI▲

SOURCE
rigzone.comAndreas ExarheasSep 7, 2026

Price reaction & history

BRENT▲bullishSO FAR1d +1.1%5d +12.0%20d +18.6%

After 442 past bullish policy events, BRENT moved a median +1.4% over 5 sessions (60% higher; middle half -2.0% to +4.9%), and +2.1% over 20.

Oct 1, 2026OPEC+ keeps output policy unchanged for October+2.6%
Sep 4, 2024OPEC+ discussing delay to planned oil output hike in October, sources say | Reuters-7.1%
Sep 5, 2024OPEC+ agrees to delay October oil output hike for two months | Reuters-4.4%
Oct 31, 2017OPEC oil output falls in October led by drop in Iraqi exports+5.8%
Sep 6, 2026OPEC, Allies Agree to Keep Oil Output Steady in October - WSJ+12.0%

WTI▲bullishSO FAR1d 0.0%5d +9.3%20d +3.6%

After 438 past bullish policy events, WTI moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% over 20.

Oct 1, 2026OPEC+ keeps output policy unchanged for October-2.3%
Sep 4, 2024OPEC+ discussing delay to planned oil output hike in October, sources say | Reuters-6.4%
Sep 5, 2024OPEC+ agrees to delay October oil output hike for two months | Reuters-2.7%
Oct 31, 2017OPEC oil output falls in October led by drop in Iraqi exports+5.9%
Sep 6, 2026OPEC, Allies Agree to Keep Oil Output Steady in October - WSJ+9.3%

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.

BRENT · GP ▸

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WTI · GP ▸

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