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OPEC+ members have agreed in principle to keep their December oil output targets unchanged, according to three sources, at a Sunday online meeting of seven core members. The group completed the phased rollback of a 1.65 million bpd cut in September, and most members are still pumping below their targets because of Iran war disruptions to Gulf exports.
A hold on targets removes near-term supply-policy changes, so prices stay driven by the Gulf export disruption. Actual Gulf output remains constrained below quotas, which keeps the market tight.
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oilandgas360.comOil & Gas 360Oct 28, 2026After 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 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.
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.
