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OPEC+ agrees in principle to keep oil output targets steady in December: Reuters
The alliance is holding current supply settings while members prepare a capacity review that will shape 2027 quota talks, sources said.
- On Sunday, OPEC members reached a preliminary agreement to keep oil production targets unchanged in December, according to Reuters, with a virtual meeting involving seven key producers: Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman.
- The Organization and Russia maintain production cuts totaling approximately 2 million barrels per day through the end of 2026, allowing the alliance to assess market conditions while managing current production capabilities.
- In September, OPEC completed the phased reversal of production cuts totaling 1.65 million barrels per day; however, ongoing conflict involving Iran has disrupted operations among Gulf producers, leaving several nations producing below their allocated quotas.
- Attention within the alliance is increasingly shifting toward negotiations over production allocations for 2027, as forthcoming talks regarding future quotas could prove more consequential for the direction of global oil supply in the months ahead.
- A comprehensive Production Capacity Review is expected to be finalized during the fourth quarter of this year, with new baseline figures that will influence individual country targets and provide a framework for future supply adjustment decisions.
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·Helsinki, Finland
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The countries of the OPEC+ oil cartel are keeping their production targets unchanged until the end of this year, despite high oil and fuel prices. Saudi Arabia, Russia, and several other countries decided this on Sunday during an online meeting.
·Amsterdam, Netherlands (Kingdom of the)
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dagelijksestandaard.nlReposted by 
welingelichtekringen.nl
welingelichtekringen.nlVIENNA (ANP/BLOOMBERG) - The countries of the OPEC+ oil cartel are keeping their production targets unchanged until the end of this year, despite high oil and fuel prices. Saudi Arabia, Russia, and several other countries decided this on Sunday during an online meeting. As long as the Iran war continues, the impact is...
Coverage Details
Total News Sources57
Leaning Left2Leaning Right14Center10Last UpdatedBias Distribution54% Right
Bias Distribution
- 54% of the sources lean Right
54% Right
C 38%
R 54%
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