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

The Express Tribune reported, citing Reuters, that the OPEC+ producer group is expected to leave its crude output policy as it stands for October at a Sunday meeting. Two people familiar with the matter said quotas must be agreed before any further changes to output are considered. The timing reflects an ongoing conflict that has squeezed crude shipments through the Strait of Hormuz.

The gathering follows the Iran war's continued disruption of exports, which has reduced the group's sway over pricing and its share of the market. Sources said the bloc's supply decisions now have a smaller market effect than in the past. In August, members approved a production increase for September that completed the unwinding of a 1.65 million barrels per day cut first agreed in 2023, yet output remains well below targets because of the war.

Before deciding how to unwind the remaining cuts, which run until the end of 2026, the group must review members' production capacity to set 2027 baselines. A further debate is likely later in 2026, and sources said OPEC+ is likely to pause output increases in the fourth quarter.