◂ Event Timeline

Nov 1, 2026POLICYGlobal

OPEC+ to Keep December Oil Output Target at Current Levels

Seven key OPEC+ producers said after an online meeting they would keep December output unchanged. Further policy changes are expected to be deferred until the November 29 ministerial meeting.

WHY IT MATTERS

The deferral of policy changes to late November keeps supply uncertainty in place, supporting crude prices into the period.

AFFECTSCrude Oil (Brent)▲Crude Oil (WTI)▲

SOURCE
en.fnnews.comFinancial NewsNov 1, 2026

Price reaction & history

Crude Oil (Brent)▲bullishSO FAR1d -3.4%5d —20d —

After 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.

Dec 5, 2019OPEC, allies agree to deepen oil output cuts+0.7%
Oct 30, 2024OPEC+ could delay December oil output hike, sources say+7.2%
Apr 2, 2023Oil leaps 6% as OPEC+ shocks markets by cutting output target+7.4%
Sep 6, 2026OPEC, Allies Agree to Keep Oil Output Steady in October - WSJ+12.0%
Oct 4, 2023Opec+ sticks to current output policy after oil price rally | The National-3.8%

Crude Oil (WTI)▲bullishSO FAR1d -1.2%5d —20d —

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.

Dec 5, 2019OPEC, allies agree to deepen oil output cuts+0.5%
Oct 30, 2024OPEC+ could delay December oil output hike, sources say+7.1%
Apr 2, 2023Oil leaps 6% as OPEC+ shocks markets by cutting output target+5.4%
Sep 6, 2026OPEC, Allies Agree to Keep Oil Output Steady in October - WSJ+9.3%
Oct 4, 2023Opec+ sticks to current output policy after oil price rally | The National-3.7%

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.

Crude Oil (Brent) BRENT · GP ▸

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Crude Oil (WTI) WTI · GP ▸

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