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🇦🇪 United Arab Emirates /Energy & Infrastructure

OPEC+ keeps October oil output policy unchanged

From Khaleej Times · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Named sources New plan
  • OPEC+ kept its October oil output policy unchanged at a meeting of seven core members.
  • The group faces disrupted exports and remains unable to produce at its stated targets despite recent increases.
  • Members are preparing to review production capacity for 2027 quotas, with a possible pause in output increases during the fourth quarter.

OPEC+ kept its oil output policy unchanged for October, saying the producer group needs to agree new quotas before deciding its next steps.

The meeting brought together Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman as the Iran war continued to disrupt exports through the Strait of Hormuz. The conflict has limited OPEC+'s influence over oil prices and market share.

OPEC+ currently has very limited power over the physical oil market.

· Jorge LeonThe Rystad Energy analyst assessed the group's influence over physical oil supplies.

In August, the group approved a production increase for September and completed the phased rollback of a 1.65 million-barrel-per-day cut introduced in 2023. Yet OPEC+ still produces well below its targets because of the war.

The group can change production targets on paper, but it cannot guarantee that those barrels will be produced or actually reach the market.

· Jorge LeonLeon described the limits of production targets during the conflict.

“OPEC+ currently has very limited power over the physical oil market,” said Jorge Leon of Rystad Energy. “The group can change production targets on paper, but it cannot guarantee that those barrels will be produced or actually reach the market.”

The group still has another set of cuts covering most of its 21 members until the end of 2026. It must review members' production capacity before setting 2027 output baselines, which will underpin future quotas. That debate is expected later in 2026, and OPEC+ is likely to pause output increases in the fourth quarter, sources previously told Reuters. Sunday's statement did not discuss policy beyond October. The seven countries will meet again on Oct. 4.

The focus now shifts away from monthly production adjustments and towards the much more consequential debate over 2027.

· Jorge LeonLeon pointed to the group's longer-term quota debate.
About this summary

Originally published by Khaleej Times in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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