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

OPEC+ is expected to maintain its oil output policy unchanged at a meeting on Sunday, according to three sources familiar with the matter. The producer group is in the final stages of unwinding a layer of production cuts from 2023, as it prepares to negotiate its 2027 quota allocations. The meeting, which will be attended by seven core OPEC+ members, is set to begin at 1100 GMT.

However, the group's decisions on supply have been less impactful on the market due to ongoing disruptions caused by the Iran war, which has reduced OPEC+'s influence on prices and market share.