Seven OPEC+ countries hold December oil output targets unchanged

Seven OPEC+ countries met virtually on 1 November and kept December oil production targets unchanged for a third consecutive month.

• Seven members led by Saudi Arabia and Russia decided in a virtual meeting on 1 November to keep December production targets at September levels.
• The decision marks the third consecutive month of unchanged targets, following similar decisions for October and November.
• OPEC set the group's next meeting for 29 November to discuss 2027 production policy.
• In September the seven countries completed the gradual rollback of 1.65 million barrels per day of voluntary cuts first announced in 2023.