OPEC+ Keeps November Oil Targets Unchanged as Brent Stays Above $100
Updated
Updated · ایران اینترنشنال · Oct 4
OPEC+ Keeps November Oil Targets Unchanged as Brent Stays Above $100
3 articles · Updated · ایران اینترنشنال · Oct 4
Summary
Seven major OPEC+ producers left November output targets unchanged, extending September required production levels despite the Iran war and tight global supplies.
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman made the decision in a virtual meeting and will review market conditions again on Nov. 1.
Brent crude is trading above $100 a barrel while Persian Gulf OPEC+ exporters have been shipping only 60% to 80% of normal volumes as the conflict disrupts regional flows.
The supply strain has already prompted the G7 to coordinate a 100 million-barrel release through the IEA over four months, with an early diesel surge and calls to restore Strait of Hormuz navigation.