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OPEC+ core members kept December 2026 oil production targets unchanged at an online meeting on Sunday, with no further policy changes expected until 2027. Brent for December delivery settled at $117.64 on October 30 as that contract expired, while WTI settled at $104.12 on the front contract.
Holding targets is largely a formality because most Gulf producers cannot reach their quotas amid the Hormuz disruption, so supply remains constrained and crude prices stay elevated, raising energy and freight costs for feed producers.
cranberryjournal.comDaniel OkaforNov 1, 2026After 442 past bullish policy events, Crude Oil (Brent) moved a median +1.4% over 5 sessions (60% higher; middle half -2.0% to +4.9%), and +2.1% over 20.
After 438 past bullish policy events, Crude Oil (WTI) moved a median +0.9% over 5 sessions (61% higher; middle half -2.2% to +4.6%), and +2.0% over 20.
After 90 past bullish policy events, ULSD / Diesel moved a median +1.4% over 5 sessions (66% higher; middle half -1.9% to +4.1%), 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.
