# Opec+ keeps output targets steady as oil nears $120

> OPEC+ kept output targets unchanged ahead of a tougher decision on 2027 quotas, with all 21 members due to meet on November 29. Oil was reported as nearing $120 following the recent rally.

- Date: 2026-11-01 · published 2026-11-01T18:08:37.596Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/29370-opec-keeps-output-targets-steady-as-oil-nears-120
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A steady quota signals no added supply near term, while the 2027 outcome will determine whether excess supply emerges. Crude strength feeds into energy and freight costs for feed buyers.

## Read by commodity

- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-10-01 | [OPEC+ agrees to keep November oil output targets steady](https://feedsoft.ai/events/17056-opec-agrees-to-keep-november-oil-output-targets-steady.md) | +2.6% | +8.8% |
| BRENT | 2026-10-04 | [OPEC+ agrees to keep November oil output targets steady](https://feedsoft.ai/events/17059-opec-agrees-to-keep-november-oil-output-targets-steady.md) | -0.9% | +2.2% |
| BRENT | 2026-01-04 | [OPEC+ keeps oil output steady amid turmoil among members \| Reuters](https://feedsoft.ai/events/20967-opec-keeps-oil-output-steady-amid-turmoil-among-members-reuters.md) | +4.7% | +16.5% |
| BRENT | 2026-10-28 | [Opec+ agrees in principle to keep oil output targets steady in December, sources say - The Business Times](https://feedsoft.ai/events/4126-opec-agrees-in-principle-to-keep-oil-output-targets-steady-in-december-sources.md) | -4.7% | — |
| BRENT | 2023-02-01 | [OPEC+ keeps output steady amid uncertainty on China and Russia](https://feedsoft.ai/events/37228-opec-keeps-output-steady-amid-uncertainty-on-china-and-russia.md) | -0.8% | -0.5% |

## Sources

- businessday.co.za: https://www.businessday.co.za/markets/2026-11-01-opec-keeps-output-targets-steady-as-oil-nears-120/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.