# OPEC+ Holds Output Steady, Maintains 2M BPD Cuts: ETFs in Focus

> OPEC+ kept its December 2026 oil production targets unchanged at its November 1 meeting. The seven core members said they would hold output as Gulf producers, still hampered by the Iran war, remain below their quotas. Brent had recently neared $118 per barrel, its highest level since April.

- Date: 2026-11-03 · published 2026-11-03T21:09:20.917Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/78400-opec-holds-output-steady-maintains-2m-bpd-cuts-etfs-in-focus
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A hold keeps roughly 2 million bpd of cuts in place, so no new barrels are added to a market already tight from Hormuz disruptions. This supports crude and diesel prices, which raise input and freight costs for feed ingredient supply chains.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-07-01 | [OPEC Extends Output Cuts Into 2020 as Marathon Meeting Ends - Bloomberg](https://feedsoft.ai/events/58005-opec-extends-output-cuts-into-2020-as-marathon-meeting-ends-bloomberg.md) | -4.2% | -6.1% |
| BRENT | 2016-11-30 | [Saudis to cut oil output by 0.5 million bpd in OPEC deal: source](https://feedsoft.ai/events/73785-saudis-to-cut-oil-output-by-0-5-million-bpd-in-opec-deal-source.md) | +16.7% | +22.1% |
| BRENT | 2025-01-01 | [OPEC+ delays oil output hike until April, extends cuts into 2026](https://feedsoft.ai/events/26869-opec-delays-oil-output-hike-until-april-extends-cuts-into-2026.md) | +2.9% | +2.9% |
| BRENT | 2019-07-02 | [OPEC, Russia Agree To Extend Oil Output Cuts Into 2020](https://feedsoft.ai/events/58009-opec-russia-agree-to-extend-oil-output-cuts-into-2020.md) | -0.9% | -3.2% |
| BRENT | 2021-03-04 | [OPEC+ extends most oil output cuts into April, Saudi keeps voluntary curb](https://feedsoft.ai/events/48039-opec-extends-most-oil-output-cuts-into-april-saudi-keeps-voluntary-curb.md) | +5.2% | -1.3% |
| WTI | 2019-07-01 | [OPEC Extends Output Cuts Into 2020 as Marathon Meeting Ends - Bloomberg](https://feedsoft.ai/events/58005-opec-extends-output-cuts-into-2020-as-marathon-meeting-ends-bloomberg.md) | -1.4% | -2.5% |
| WTI | 2016-11-30 | [Saudis to cut oil output by 0.5 million bpd in OPEC deal: source](https://feedsoft.ai/events/73785-saudis-to-cut-oil-output-by-0-5-million-bpd-in-opec-deal-source.md) | +12.5% | +19.3% |
| WTI | 2025-01-01 | [OPEC+ delays oil output hike until April, extends cuts into 2026](https://feedsoft.ai/events/26869-opec-delays-oil-output-hike-until-april-extends-cuts-into-2026.md) | +2.2% | +1.1% |

## Sources

- finance.yahoo.com: https://finance.yahoo.com/energy/articles/opec-holds-output-steady-maintains-152300233.html?.tsrc=rss

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