OPEC+ Expected to Keep November Crude Output Targets Steady at Sunday Meeting

OPEC+ producers are widely expected to keep November crude production quotas unchanged at their upcoming Sunday meeting. While the alliance recently completed the unwinding of a 1.65 million barrels per day cut agreed upon in 2023, it continues to maintain roughly 2 million bpd of cuts through the end of 2026. Actual output remains restricted by regional conflict involving Iran; seven core members produced 25.0 million bpd in August, about 5 million bpd below pre-war levels. However, Middle East crude exports rebounded to approximately 16 million bpd in September, leaving Brent crude near $103 per barrel.