OPEC+ Likely to Maintain December Oil Targets Amid Ongoing Supply Disruptions

OPEC+ oil producers are projected to keep their December output targets unchanged during an upcoming meeting on Sunday, November 1, involving seven key members. Ongoing Middle East supply disruptions and doubts surrounding future production capacity continue to challenge the alliance’s strategies for managing global crude markets.

Sources familiar with the matter indicated that no changes to current targets are expected, though an official decision on December policy has not yet been announced. The meeting will feature representatives from Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman.

This expected hold comes after OPEC+ fully phased out around 1.65 million barrels per day of voluntary cuts originally enacted in 2023. However, higher authorized quotas have not yielded matching