OPEC+ Schedules Nov. 1 Meeting After Keeping November Targets Steady

Seven OPEC+ producers are expected to keep December oil-production targets unchanged at their Sunday, Nov. 1, meeting; the outcome has not been finalized.

The seven are Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman. At their Oct. 4 review of November targets, they kept November’s required production levels at September’s levels and scheduled the Nov. 1 meeting.

OPEC reaffirmed the overall crude-production level for participating countries through Dec. 31, 2026. Member countries’ capacity assessments are set to serve as a reference for 2027 production baselines, which will help shape future quotas. The full group is scheduled to meet Nov. 29.

Keeping targets unchanged would leave the stated production levels in place, but would not establish how much oil the producers actually produce or export in December.