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

According to Business Recorder, citing Reuters, OPEC+ is expected to leave its oil output policy untouched for October when it meets on Sunday. Two people familiar with the talks said the group must first agree on new quotas before it can settle its next production steps.

The gathering takes place while the Iran conflict keeps disrupting crude shipments through the Strait of Hormuz, which has curbed the bloc's leverage on pricing and share of the market. Its supply decisions now have a smaller effect on the market than they once did.

In August the group finished unwinding a 1.65 million-barrel-per-day reduction that dated back to 2023, though output stays well short of targets due to the war. A further set of cuts remains in place until the end of 2026, and capacity reviews for 2027 baselines must come first. Sources earlier told Reuters that a pause in output increases during the fourth quarter is likely.