OPEC+ Expected to Maintain Oil Production Targets at Sunday Meeting, Sources Say

The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are expected to maintain their current oil production targets at their upcoming meeting on Sunday, according to a Reuters report citing two sources familiar with the matter.

Policy Outlook

The sources, who remained anonymous, indicated that the producer group will likely roll over its existing output policy for November. However, they cautioned that no final decision has been formally made ahead of the virtual meeting.

A core group of seven OPEC+ members is scheduled to participate in the online review:

• Saudi Arabia
• Russia
• Iraq
• Kuwait
• Algeria
• Kazakhstan
• Oman

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Market Context

The decision to hold production steady comes as several member nations continue to produce crude oil at levels below their officially assigned quotas. This underproduction has been a persistent feature of the group's output landscape.

At the same time, some Gulf producers have recently increased exports that had been affected by earlier disruptions. A decision to maintain current targets would signal the group's intent to continue observing market fundamentals before making any significant changes to its supply strategy.