Seven core OPEC+ producers agreed to keep oil production targets unchanged for December
Seven core OPEC+ producers agreed Sunday to keep December production targets unchanged, maintaining September’s required levels at a combined roughly 31 million barrels per day, The National reported. The outlet said most members are producing below target amid the Iran-US war, while Brent traded above $117 a barrel. All 21 group members are due to meet Nov. 29.
More context
Seven core OPEC+ producers agreed Sunday to keep their oil production targets unchanged for December, maintaining the required production levels set for September 2026, according to a statement cited by The National. The members are Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman. Their combined target is about 31 million barrels per day, unchanged from September, October and November. Production by most members remains below their quotas amid war-related disruptions, and Brent crude was above $117 a barrel, The National said. Bloomberg reported that Strait of Hormuz shipments are rising and a Saudi export route via the Red Sea picked up in October, though Persian Gulf members remain constrained. All 21 OPEC+ countries are set to meet on November 29; analysts expect them to address 2027 quotas, UA News reported.
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Verifier’s note
The National and Bloomberg report that OPEC+ members decided on November 1 to keep December targets unchanged, and UA.NEWS carries the same decision in a Channel NewsAsia-sourced report. The Nation Thailand, Egypt Oil & Gas, Hindustan Times, and Benzinga results describe only a pre-meeting agreement or expectation, rather than the completed decision.