OPEC+ set to keep oil output policy unchanged on Sunday, sources say

OPEC+ is expected to maintain its oil output policy unchanged for October during its upcoming Sunday meeting, according to sources familiar with the discussions. The coalition, comprising the Organization of the Petroleum Exporting Countries and allies including Russia, is shifting focus toward establishing new production baselines and quotas before committing to further supply adjustments. The decision arrives against a backdrop of escalating regional conflict involving Iran, which has disrupted oil shipments through the critical Strait of Hormuz. Despite previously finalizing the phased rollback of a 1.65 million-barrel-per-day cut in August, ongoing geopolitical strife has left OPEC+ producing well below official targets, dampening the group's market influence. With existing production curbs covering most of the 21-country alliance through the end of 2026, OPEC+ must review member capacities to set 2027 output baselines. Consequently, the group is widely anticipated to pause further output increases throughout the fourth quarter, keeping global oil supply dynamics tight but unpredictable.