# Oil Price: OPEC+ Holds December Targets for a Third Month as Brent Ends October at $113.43

> OPEC+ formally kept December oil production targets unchanged on Sunday, marking a third straight monthly pause. Brent's January contract settled at $113.43 on October 30 after the December contract expired at $117.64, and Brent gained 13.6% during October. The seven producers completed their unwinding of a 2023 cut in September and have since stopped raising targets.

- Date: 2026-11-01 · published 2026-11-01T18:08:37.698Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/29373-oil-price-opec-holds-december-targets-for-a-third-month-as-brent-ends-october
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The pause adds no barrels to a market still carrying a large Iran-war supply premium, keeping crude elevated. The main price risk is the 2027 quota decision, which could bring supply increases later.

## Read by commodity

- WTI: neutral
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-09-05 | [OPEC+ agrees to delay October oil output hike for two months \| Reuters](https://feedsoft.ai/events/28238-opec-agrees-to-delay-october-oil-output-hike-for-two-months-reuters.md) | -4.4% | +1.0% |
| 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 | 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% |
| BRENT | 2016-11-30 | [Oil price rises sharply as Opec members hint at deal to limit production](https://feedsoft.ai/events/8570-oil-price-rises-sharply-as-opec-members-hint-at-deal-to-limit-production.md) | +16.7% | +22.1% |
| BRENT | 2017-11-03 | [Oil Extends Surge as OPEC Signals Deal, Supply Threats Mount - Bloomberg](https://feedsoft.ai/events/68165-oil-extends-surge-as-opec-signals-deal-supply-threats-mount-bloomberg.md) | +5.8% | +4.7% |
| WTI | 2023-04-02 | [Goldman Sachs raises Brent oil price forecasts after OPEC+ output cuts](https://feedsoft.ai/events/7952-goldman-sachs-raises-brent-oil-price-forecasts-after-opec-output-cuts.md) | +5.4% | -0.0% |
| WTI | 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) | -2.1% | — |
| WTI | 2024-02-01 | [OPEC+ monitoring has reviewed crude oil production data for November, December 2023 -  Business & Economy - TASS](https://feedsoft.ai/events/31570-opec-monitoring-has-reviewed-crude-oil-production-data-for-november-december.md) | -2.6% | +3.6% |

## Sources

- financefeeds.com: https://financefeeds.com/oil-price-opec-holds-december-targets-for-a-third-month-as-brent-ends-october-at-113-43/

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