OPEC+ kept December production targets at September’s levels, The National reports, leaving the seven core producers’ combined quota at about 31 million barrels per day. Most members are producing below their targets because of the war. The decision leaves the remaining production cuts in place through year-end, while a capacity review will help set next year’s quotas. The next meeting is scheduled for November 29; unchanged targets do not mean unchanged physical supply.
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The National reports that the seven core OPEC+ members kept December production targets at September’s levels, with a combined quota of about 31 million barrels per day.
www.thenationalnews.comA further two million barrels per day of cuts remain through year-end, while members’ production capacity is being reviewed to set quotas for 2027.
www.thenationalnews.comMost members are producing below their targets because of the war; the statement gave no timetable for increasing output.
www.thenationalnews.comThe next meeting is scheduled for November 29.
www.thenationalnews.comLimitation: most members are producing below their targets because of the war, so the quota decision does not establish actual supply volumes.
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