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OPEC+ Major Oil Producers Keep Dec Production Targets Unchanged
2026-11-02 08:45:21 OPEC+ oil-producing countries kept production targets for December unchanged as expected, meaning no further policy adjustments will be made before next year. In a statement, OPEC said seven core members, namely Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman, agreed to the decision. Although Gulf members have been working to increase exports disrupted by conflicts, output in most countries remains well below their targets. OPEC reportedly needs to complete a review of member countries' production capacities in 4Q26 before determining baseline production levels for next year. Future quotas and plans for the gradual phase-out of output cuts will be formulated based on these baselines. (mn/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |