# OPEC+ seen to stick with plan for quotas |  BusinessMirror and Salma El Wardany and Nayla Razzouk / Bloomberg

> Bank economists warned that Philippine inflation could exceed 8% in November and December, driven by higher public transport fares, electricity rates and wage increases. They cited stubbornly high global oil prices and the threat of El Niño to food supply. Business sentiment in the Philippines improved slightly in September but firms remained concerned about fuel costs and peso depreciation.

- Date: 2026-11-02 · published 2026-11-02T06:13:11.949Z
- Category: macro · region Philippines · magnitude low
- Page: https://feedsoft.ai/events/74980-opec-seen-to-stick-with-plan-for-quotas-businessmirror-and-salma-el-wardany-and
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

High crude prices feed through to Philippine fuel and transport costs, which pressures feed and food prices and the local currency. The direct effect on feed commodity prices is limited, so this is a macro signal rather than a market mover.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2016-11-30 | [OPEC Deal Is Bad News for U.S. Gas and Good News for LNG - Bloomberg](https://feedsoft.ai/events/74028-opec-deal-is-bad-news-for-u-s-gas-and-good-news-for-lng-bloomberg.md) | +12.5% | +19.3% |
| WTI | 2019-07-01 | [Oil Plunges in Worst Reaction to OPEC Since 2014 on Demand Woes - Bloomberg](https://feedsoft.ai/events/58299-oil-plunges-in-worst-reaction-to-opec-since-2014-on-demand-woes-bloomberg.md) | -1.4% | -2.5% |
| WTI | 2023-09-20 | [Goldman Sachs Says Oil’s Going Back to $100 as OPEC+ Cuts - Bloomberg](https://feedsoft.ai/events/34275-goldman-sachs-says-oil-s-going-back-to-100-as-opec-cuts-bloomberg.md) | -0.1% | -5.0% |
| WTI | 2024-09-19 | [Rate cut a plus for some commodities, but demand and supply forces will still be key - The Business Times](https://feedsoft.ai/events/28217-rate-cut-a-plus-for-some-commodities-but-demand-and-supply-forces-will-still-be.md) | -1.9% | -1.1% |
| WTI | 2026-06-11 | [IDR/USD: Why the Rupiah Is Falling and What It Means for Indonesia’s Economy - Bloomberg](https://feedsoft.ai/events/19106-idr-usd-why-the-rupiah-is-falling-and-what-it-means-for-indonesia-s-economy.md) | -14.0% | -24.3% |
| BRENT | 2019-07-01 | [Oil Plunges in Worst Reaction to OPEC Since 2014 on Demand Woes - Bloomberg](https://feedsoft.ai/events/58299-oil-plunges-in-worst-reaction-to-opec-since-2014-on-demand-woes-bloomberg.md) | -4.2% | -6.1% |
| BRENT | 2023-09-20 | [Goldman Sachs Says Oil’s Going Back to $100 as OPEC+ Cuts - Bloomberg](https://feedsoft.ai/events/34275-goldman-sachs-says-oil-s-going-back-to-100-as-opec-cuts-bloomberg.md) | -1.1% | -4.2% |
| BRENT | 2018-05-22 | [Oil conspires with politics to drive rupee toward record low \| Business News](https://feedsoft.ai/events/65299-oil-conspires-with-politics-to-drive-rupee-toward-record-low-business-news.md) | -4.9% | -4.8% |

## Sources

- businessmirror.com.ph: https://businessmirror.com.ph/2026/11/01/opec-seen-to-stick-with-plan-for-quotas/

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