OPEC+ Expected to Keep Oil Production Quotas Unchanged

AI Summary

OPEC+ producers are expected to keep November crude production quotas unchanged at a meeting this weekend, according to sources cited by Reuters. Gulf producers have been exporting reduced volumes amid disruption to Strait of Hormuz traffic linked to the Iran war.

The key OPEC+ producers are set to leave their current crude oil output quotas unchanged for November at a meeting this weekend, anonymous sources familiar with the plans told Reuters on Wednesday.  The Gulf producers in OPEC+ have been producing and exporting much lower volumes sin ce the Iran war crippled traffic through the Strait of Hormuz.  In the early September monthly meeting, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman decided to maintain the September 2026 required production quotas for October 2026, after…