# OPEC+ Set to Hold Output as Oil Hits a Six-Month High

> OPEC+ agreed in principle to leave December output targets unchanged at its Sunday meeting. Brent's expiring December contract settled at $117.64, the highest since April, while the January contract settled at $113.43. US crude closed at $104.12 as traders prepared for possible escalation in the Iran war.

- Date: 2026-11-01 · published 2026-11-01T18:08:37.664Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/29372-opec-set-to-hold-output-as-oil-hits-a-six-month-high
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The hold changes nothing in barrels since Gulf members cannot reach current targets, so the price support comes from the war and Hormuz disruption rather than quota policy. Higher crude keeps diesel and freight costs elevated for feed supply chains.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2021-11-01 | [Oil hits multi-year highs as OPEC+ sticks to output plan](https://feedsoft.ai/events/44446-oil-hits-multi-year-highs-as-opec-sticks-to-output-plan.md) | -1.4% | -13.4% |
| BRENT | 2020-12-02 | [Oil Hits 9-Month High After OPEC+ Agrees to Gradual Output Hike - Bloomberg](https://feedsoft.ai/events/49555-oil-hits-9-month-high-after-opec-agrees-to-gradual-output-hike-bloomberg.md) | +3.4% | +8.1% |
| BRENT | 2016-12-01 | [Oil soars, Brent hits 16-month high after OPEC output deal \| Reuters](https://feedsoft.ai/events/9699-oil-soars-brent-hits-16-month-high-after-opec-output-deal-reuters.md) | +6.6% | +12.9% |
| BRENT | 2025-10-01 | [Oil settles up after OPEC+ opts for modest output hike](https://feedsoft.ai/events/22769-oil-settles-up-after-opec-opts-for-modest-output-hike.md) | -2.2% | -5.2% |
| BRENT | 2021-06-01 | [Brent Touches A Three-Month High As OPEC+ Decides To Stick With Output Increases For July](https://feedsoft.ai/events/46497-brent-touches-a-three-month-high-as-opec-decides-to-stick-with-output-increases.md) | +2.4% | +7.5% |
| WTI | 2021-11-01 | [Oil hits multi-year highs as OPEC+ sticks to output plan](https://feedsoft.ai/events/44446-oil-hits-multi-year-highs-as-opec-sticks-to-output-plan.md) | -2.7% | -16.3% |
| WTI | 2020-12-02 | [Oil Hits 9-Month High After OPEC+ Agrees to Gradual Output Hike - Bloomberg](https://feedsoft.ai/events/49555-oil-hits-9-month-high-after-opec-agrees-to-gradual-output-hike-bloomberg.md) | +2.4% | +8.4% |
| WTI | 2016-12-01 | [Oil soars, Brent hits 16-month high after OPEC output deal \| Reuters](https://feedsoft.ai/events/9699-oil-soars-brent-hits-16-month-high-after-opec-output-deal-reuters.md) | +0.8% | +8.8% |

## Sources

- trade2spike.com: https://www.trade2spike.com/news/opec-plus-set-to-hold-december-output-targets-brent-117-64-highest-since-april-2027-baselines

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