# Opec+ agrees in principle to keep oil output targets steady in December, sources say - The Business Times

> 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.

- Date: 2026-10-28 · published 2026-10-28T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/4126-opec-agrees-in-principle-to-keep-oil-output-targets-steady-in-december-sources
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

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.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 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) | +0.8% | +8.4% |
| WTI | 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) | -2.3% | +8.7% |
| WTI | 2023-11-30 | [OPEC+ agrees to voluntary oil output cuts - Business & Finance - Business Recorder](https://feedsoft.ai/events/33089-opec-agrees-to-voluntary-oil-output-cuts-business-and-finance-business-recorder.md) | -11.0% | -7.4% |
| WTI | 2021-01-03 | [OPEC ready to adjust oil output increases: Barkindo - Markets - Business Recorder](https://feedsoft.ai/events/49056-opec-ready-to-adjust-oil-output-increases-barkindo-markets-business-recorder.md) | +7.8% | +10.6% |
| WTI | 2024-02-01 | [Opec+ committee meeting keeps oil output policy unchanged - The Business Times](https://feedsoft.ai/events/31568-opec-committee-meeting-keeps-oil-output-policy-unchanged-the-business-times.md) | -2.6% | +3.6% |
| 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 | 2026-10-01 | [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 | 2023-11-30 | [OPEC+ agrees to voluntary oil output cuts - Business & Finance - Business Recorder](https://feedsoft.ai/events/33089-opec-agrees-to-voluntary-oil-output-cuts-business-and-finance-business-recorder.md) | -10.5% | -5.2% |

## Sources

- au.investing.com: https://au.investing.com/news/commodities-news/opec-set-to-hold-december-oil-output-steady-reuters-reports-4731574
- wtvbam.com: https://wtvbam.com/2026/10/31/opec-set-to-keep-production-targets-unchanged-in-december-source-says/
- business-standard.com: https://www.business-standard.com/world-news/opec-agrees-in-principle-to-keep-oil-output-targets-steady-in-dec-126110100053_1.html
- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/energy-commodities/opec-agrees-principle-keep-oil-output-targets-steady-december-sources-say
- cnbc.com: https://www.cnbc.com/2026/10/31/opec-oil-output-targets-december.html
- oilandgas360.com: https://www.oilandgas360.com/opec-oil-producers-set-to-keep-output-targets-steady-at-sunday-meeting-sources-say/

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