{
  "id": 17599885,
  "title": "Opec+ holds December oil output targets steady as Iran war disrupts supply",
  "url": "https://urgent.news/2026/11/01/opec-holds-december-oil-output-targets-steady-as-iran-war-disrupts",
  "topic": "world",
  "section": "World",
  "published": "2026-11-01T12:42:12.000Z",
  "source": {
    "name": "The National UAE",
    "slug": "the-national-uae",
    "url": "https://www.thenationalnews.com/business/energy/2026/11/01/opec-holds-december-oil-output-targets-steady-as-iran-war-disrupts-supply/"
  },
  "original_language": "en",
  "account": "The Organization of Petroleum Exporting Countries, or Opec+, decided on Sunday to maintain its December oil production targets unchanged, despite ongoing disruptions to global supplies caused by the Middle East war. The seven core members – Saudi Arabia, Iraq, Kuwait, Oman, Algeria, Russia and Kazakhstan – affirmed their commitment to meeting September 2026 production levels for December 2026 at a meeting on Sunday. The group had already unwound 1.65 million barrels per day of 2023 voluntary cuts in September and retained two million bpd of cuts from 2022 until year-end. They are also reviewing members' production capacities to set quotas for 2027. Opec+ reiterated its commitment to achieving full conformity with the Declaration of Cooperation and will hold monthly meetings to review market conditions, with the next meeting scheduled for November 29. The target production for the seven members amounts to about 31 million bpd for December, unchanged from the previous three months. However, most members are currently producing below their targets due to the ongoing conflict. The Strait of Hormuz, a critical oil and gas transit route, has been effectively closed since February 28 as a result of US-Iranian hostilities. This closure has no clear end in sight, raising concerns about the potential resumption of US-Iranian hostilities post-midterm elections. Israeli media reports suggest that Israel's defense establishment is preparing for another possible conflict with Iran. Meanwhile, attacks on commercial vessels in and around the strait have increased, with at least 35 incidents reported in October. Saudi Arabia intercepted and destroyed a hostile drone in the capital on Saturday, following dozens of Houthi strikes on Saudi assets. Oil prices rose more than 2 percent on Friday, reaching six-month highs and marking a fourth consecutive monthly gain.",
  "summary": "The Opec+ bloc kept its oil production targets unchanged for December, maintaining September's required production levels as the war in the Middle East continues to disrupt global energy supplies. The group's seven core members – Saudi Arabia, Iraq, Kuwait, Oman, Algeria, Russia and Kazakhstan – decided during a meeting on Sunday to “maintain September 2026 required production for December 2026”…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Daily Post Nigeria",
        "title": "World War III looms as Trump reveals US still has ‘one or two targets’ in Iran, vows more strikes",
        "url": "https://urgent.news/2026/11/01/world-war-iii-looms-as-trump-reveals-us-still-has-one-or-two-targets",
        "published": "2026-11-01T06:13:31.000Z"
      }
    ]
  },
  "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."
}