LONDON, November 1, 2026 (DAILYNWZ) — OPEC+ is expected to maintain its oil production targets unchanged for December, as the group prepares to shift its focus towards negotiating output quotas for 2027 amid continued supply disruptions linked to the war in Iran.
Three sources familiar with the matter told media that seven key members of the alliance had agreed in principle to leave December production targets unchanged at an online meeting scheduled for Sunday. The sources declined to be identified.
The meeting brings together Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman, whose production decisions carry significant weight in the alliance’s supply policy.
The expected decision follows months of disruption to Gulf oil exports caused by the Iran war. Although producers in the region have been increasing shipments as export routes recover, most remain unable to pump at levels consistent with their agreed production targets.
OPEC+, which brings together the Organization of the Petroleum Exporting Countries and allied producers including Russia, has been gradually restoring supplies after introducing production restrictions to support the market.
In September, the alliance completed the phased reversal of a 1.65 million-barrel-per-day production cut initially agreed in 2023. However, a separate layer of reductions, amounting to around 2 million barrels per day and covering most members, remains in place through the end of 2026.
The decision to maintain December targets would be consistent with expectations that the group will avoid further adjustments during the final quarter of the year. Media reported in July that OPEC+ was likely to keep its production policy unchanged over that period as attention turned to preparations for the 2027 quota negotiations.
Before establishing the next round of production limits, the alliance must complete a review of its members’ production capacities during the fourth quarter, according to sources familiar with the process.
The assessment will provide the basis for setting new production baselines for 2027. These reference levels determine individual members’ output quotas and will help shape the timetable for gradually unwinding the remaining production cuts.
The forthcoming quota negotiations are therefore expected to play a central role in determining how much oil OPEC+ members can supply to the market next year.
For now, the alliance appears inclined to preserve its existing framework while producers contend with the effects of regional supply disruptions and prepare for the next phase of its production policy.