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OPEC+ agreed in principle to keep December 2026 oil output targets unchanged, as reported by Reuters citing three sources. Seven core members, including Saudi Arabia and Russia, met online, and the outcome matched expectations of no policy changes until next year.
Gulf producers are pumping below quotas due to Iran war disruptions.
Holding targets steady is widely expected, so the decision changes little in the near term. Gulf output that remains below quota limits how much extra supply the group can add, which keeps the market tight and supports crude prices.
benzinga.comBenzingaNov 1, 2026After 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.
After 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.
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.
