◂ Event Timeline

Nov 1, 2026POLICYGlobal

OPEC+ set to keep oil output targets steady, sources say By Reuters

Seven core OPEC+ members were set to keep oil production targets unchanged for December at a Sunday online meeting, according to sources. Gulf members are raising exports disrupted by the US-Iran war, but most remain well below their targets.

The group still has about 2 million bpd of cuts in place through end-2026.

WHY IT MATTERS

A hold on targets adds no barrels while producers remain below quota, so the supply picture is driven by the Gulf disruption rather than OPEC+ policy. Crude prices stay supported by the geopolitical risk premium.

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

13 SOURCES
24-ore.com1 min lexim Facebook X WhatsAppNov 3, 2026
live.euronext.comNov 1, 2026
pressofasia.comBusiness DeskNov 3, 2026
channelnewsasia.comNov 1, 2026
enerdata.netNov 3, 2026
euro-petrole.comEuropétroleNov 2, 2026
geopoliticsalpha.comNov 1, 2026
ilkha.comANA SAYFA DÜNYA OPEC+, kasım ayında üretim kotalarını koruyacakNov 4, 2026
investing.comNov 1, 2026
petroleumprice.ngSamuel SurajuNov 3, 2026
qatar-tribune.comNov 1, 2026
tunisienumerique.comMohsen TissNov 3, 2026
yatirimmasasi.comNov 1, 2026

Price reaction & history

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.

Oct 4, 2021OPEC+ agrees to stick to existing oil output plan, sources say | Reuters+4.6%
Sep 26, 2025OPEC+ is poised to slip further below oil output target | Reuters-6.6%
Sep 4, 2024OPEC+ discussing delay to planned oil output hike in October, sources say | Reuters-6.4%
Apr 3, 2024OPEC+ Keeps Oil Output Steady As Crude Prices Soar+0.1%
Sep 6, 2026OPEC, Allies Agree to Keep Oil Output Steady in October - WSJ+9.3%

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.

Oct 4, 2021OPEC+ agrees to stick to existing oil output plan, sources say | Reuters+3.7%
Sep 26, 2025OPEC+ is poised to slip further below oil output target | Reuters-7.4%
Sep 4, 2024OPEC+ discussing delay to planned oil output hike in October, sources say | Reuters-7.1%
Apr 3, 2024OPEC+ Keeps Oil Output Steady As Crude Prices Soar+2.8%
Sep 6, 2026OPEC, Allies Agree to Keep Oil Output Steady in October - WSJ+12.0%

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 (WTI) WTI · GP ▸

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Crude Oil (Brent) BRENT · GP ▸

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