OPEC+ likely to keep oil output targets steady: sources

Key facts

• OPEC+ likely to keep oil production targets steady for December.
• Focus shifting to 2027 quota negotiations.
• Gulf members boosting exports amid disruptions.

OPEC+ oil-producing countries are expected to maintain their current production targets for December when they hold an online meeting on Sunday, according to three sources familiar with the matter. The group, which includes the Organization of the Petroleum Exporting Countries and allies like Russia, is reportedly shifting its focus to quota negotiations for 2027. Seven core members, including Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman, will participate in the meeting. Despite ongoing disruptions from the Iran war, Gulf members have been increasing their exports, though most are still producing below their assigned targets.