◂ Event Timeline

Nov 1, 2026POLICYGlobal

OPEC+ agreed to maintain their oil production targets for December 2026.

OPEC+ agreed in principle on November 1 to maintain oil production targets for December 2026, according to three anonymous sources. The seven core members, including Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman, met online.

Most producers remain well below their quotas because of conflict-related disruptions in the Gulf.

WHY IT MATTERS

Holding targets steady while Gulf output remains below quota leaves actual supply constrained, which limits downside for crude and the diesel and energy costs that feed into freight and processing. Any real supply recovery would add barrels to the market.

AFFECTSWTI◆BRENT◆DIESEL◆

47 SOURCES
anewz.tvMaha El-RayesNov 2, 2026
diarioelcaribeno.comReyni Miguel Rojas RodríguezNov 3, 2026
dzwatch.dzDZ Watch NewsroomNov 2, 2026
economymiddleeast.comElias Al HelouNov 2, 2026
ehplus.doEH+Nov 3, 2026
en.apa.azNov 1, 2026
energynow.comNov 3, 2026
english.news.cnNov 2, 2026
eng.madar.mrBinta BaNov 1, 2026
en.hathalyoum.netNov 3, 2026
jarayid.comNov 2, 2026
journalplus.chJournalPlus RedaktionNov 3, 2026
newspoint.inBusiness DeskNov 1, 2026
news-tunisia.tunisienumerique.comMohsen TissNov 3, 2026
oilauthority.comNov 1, 2026
operativmm.azOperativ Məlumat MərkəziNov 2, 2026
seekingalpha.comRob WilliamsNov 1, 2026
thevaultznews.comIvy Opoku MintahNov 2, 2026
veja.abril.com.brLigia MoraesNov 2, 2026
ainvest.comNov 1, 2026
aps.dzNov 1, 2026
aqreqator.azNov 1, 2026
arabnews.comArab NewsNov 1, 2026
azernews.azUlviyya Poladova Read moreNov 1, 2026
bloomberg.comSalma El Wardany, Grant Smith, Nayla RazzoukNov 1, 2026
eleconomista.com.mxReutersNov 2, 2026
forbesmiddleeast.comSaid Khaled Aly Mohamed, Nirvana Mahmoud, Joyce AbañoNov 1, 2026
iraq-businessnews.comNov 3, 2026
iraqinews.comAmr SalemNov 1, 2026
lnr-dz.comDjamila SaiNov 3, 2026
ndtvprofit.comAltaf HussainNov 1, 2026
octaafrica.netNov 2, 2026
oilexp.ruВиктория СамойленкоNov 3, 2026
opec.orgNov 1, 2026
razonysaber.comRazón y Saber Editorial TeamNov 2, 2026
rigzone.comSalma El Wardany, Grant Smith, Nayla RazzoukNov 2, 2026
rrfn.comDon WickNov 2, 2026
rudaw.netRUDAW EnglishNov 1, 2026
straitstimes.comNov 1, 2026
thecable.ngNov 2, 2026
theepochtimes.comNaveen AthrappullyNov 2, 2026
thestar.com.mySonja Schromm, Meng FanyuNov 1, 2026
tmgm.comLallalit SrijandornNov 2, 2026
tmgm.comwww.tmgm.comNov 2, 2026
upstreamonline.comNishant UgalNov 2, 2026
vietnam.vnVietnamPlusNov 1, 2026
worldports.orgSophie BeckerNov 1, 2026

Price reaction & history

WTI◆neutralSO FAR1d -1.2%5d —20d —

After 187 past neutral policy events, WTI moved a median -0.1% over 5 sessions (49% higher; middle half -4.0% to +3.5%), and +0.1% over 20.

Mar 9, 2018OPEC+ seven agree to maintain November production levels+1.7%
Oct 5, 2021OPEC+ maintains its production policy for November – EnergyScan+3.8%
Feb 5, 2025MEED | Opec+ decides to adhere to oil production policy+0.9%
Sep 18, 2020OPEC JMMC asks members to maintain status quo on production quotas-2.0%
Feb 1, 2024OPEC+ monitoring has reviewed crude oil production data for November, December 2023 - Business & Economy - TASS-2.6%

BRENT◆neutralSO FAR1d -3.4%5d —20d —

After 175 past neutral policy events, BRENT moved a median -0.9% over 5 sessions (45% higher; middle half -3.6% to +3.0%), and +0.7% over 20.

Mar 9, 2018OPEC+ seven agree to maintain November production levels+1.0%
Feb 5, 2025MEED | Opec+ decides to adhere to oil production policy+1.2%
Sep 18, 2020OPEC JMMC asks members to maintain status quo on production quotas-2.9%
Feb 1, 2024OPEC+ monitoring has reviewed crude oil production data for November, December 2023 - Business & Economy - TASS-2.6%
Mar 16, 2023OPEC to wait for calmer financial markets before making oil production cut decision+3.2%

DIESEL◆neutralSO FAR1d -2.6%5d —20d —

After 27 past neutral policy events, DIESEL moved a median -1.4% over 5 sessions (41% higher; middle half -4.3% to +2.6%), and -4.6% over 20.

Oct 4, 2026OPEC+ agrees to keep November oil output targets steady+5.2%
Nov 7, 2024Indonesia targets three-year timeline for 50% biodiesel mandate-2.4%
Jul 27, 2019FreightWaves oil report: the few market signs on IMO 2020 not flashing danger yet - FreightWaves-1.4%
Feb 7, 2022FEATURE: Renewable diesel producers racing for the finish line as credits under pressure | S&P Global+3.1%
Apr 26, 2019Minister: Govt to intervene in event of steep palm oil, biofuel price hike | Malay Mail-1.2%

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.

WTI · GP ▸

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BRENT · GP ▸

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