{
  "id": 11876279,
  "title": "OPEC+ set to keep November oil output targets steady, sources say",
  "url": "https://urgent.news/2026/10/04/opec-set-to-keep-november-oil-output-targets-steady-sources-say",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-04T07:36:31.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/10/1547463/opec-set-keep-november-oil-output-targets-steady-sources-say"
  },
  "original_language": "en",
  "account": "The Organisation of the Petroleum Exporting Countries and allied oil producers, known as OPEC+, is expected to maintain its oil production targets for November, according to three sources familiar with the matter. Gulf OPEC+ producers have been producing at significantly reduced levels, with exports fluctuating between 60-80% of normal due to disruptions caused by the US-Israeli war on Iran. The conflict has also delayed the group's capacity review, which is essential for determining members' 2027 output quotas, as it has introduced uncertainty regarding future production potential. OPEC+, which includes the Organization of the Petroleum Exporting Countries and partners such as Russia, has agreed in principle to keep the November targets unchanged. Despite raising output targets for much of 2026 following years of production cuts, most of these increases have remained on paper due to the ongoing Middle East conflict. In August, the seven core OPEC+ members produced 25 million barrels per day, a 630,000 barrel increase from July but still 5 million barrels below pre-war levels in February. OPEC+ currently maintains about 2 million barrels of output cuts, affecting most members. The group's seven core members will meet on Sunday, comprising Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman.",
  "summary": "LONDON/MOSCOW: The Organisation of the Petroleum Exporting Countries and allied oil producers (OPEC+) is set to keep oil production targets steady for November, three sources close to the matter said ahead of the group’s meeting on Sunday.",
  "key_points": [
    "OPEC+ to maintain November oil output targets steady",
    "Gulf producers at 60-80% of normal exports due to Iran war",
    "Core OPEC+ members meet on Sunday to discuss 2027 quotas"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Bloomberg",
        "title": "OPEC+ Set to Keep Quotas Steady in November, Delegates Say",
        "url": "https://urgent.news/2026/10/04/opec-set-to-keep-quotas-steady-in-november-delegates-say",
        "published": "2026-10-04T07:49:48.000Z"
      },
      {
        "outlet": "The Moscow Times",
        "title": "OPEC+ Set to Keep November Oil Output Targets Steady, Sources Say",
        "url": "https://urgent.news/2026/10/04/opec-set-to-keep-november-oil-output-targets-steady-sources-say-11879187",
        "published": "2026-10-04T07:53:24.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "OPEC+ set to keep November oil output targets steady, sources say",
        "url": "https://urgent.news/2026/10/04/opec-set-to-keep-november-oil-output-targets-steady-sources-say-11882666",
        "published": "2026-10-04T07:59:43.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}