OPEC+ oil producers set to keep output targets steady at Sunday meeting, sources say - Reuters
Google News Reuters
G
Google News Reuters
Original Source
OPEC+ member states are expected to maintain steady oil production targets at their Sunday meeting, according to informed sources. Gulf producers continue to pump significantly below their allocated quotas despite the removal of production cuts, as regional disruptions persist.
OPEC+ oil producers set to keep output targets steady at Sunday meeting, sources say | Reuters
Skip to main content
Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv
* World
Browse World
+ Africa
+ Americas
+ Asia Pacific
+ China
+ Europe
+ India
+ Iran War
+ Israel and Hamas at War
- Japan
- Middle East
- Reuters/Ipsos Polls
- Ukraine and Russia at War
- United Kingdom
- United States
- U.S. Midterm Elections
- Reuters NEXT
* Business
Browse Business
+ Aerospace & Defense
+ Autos & Transportation
+ Davos
+ Energy
+ Environment
+ Finance
+ Healthcare & Pharmaceuticals
- Media & Telecom
- Retail & Consumer
- Future of Health
- Future of Money
- Take Five
- World at Work
* Markets
Browse Markets
+ On the Money
+ Asian Markets
+ Carbon Markets
+ Commodities
+ Currencies
+ Deals
+ Emerging Markets
+ ETFs
- European Markets
- Funds
- Econ World
- Global Market Data
- Rates & Bonds
- Stocks
- U.S. Markets
- Wealth
* Sustainability
Browse Sustainability
+ Boards, Policy & Regulation
+ Climate & Energy
+ Land Use & Biodiversity
+ Society & Equity
- Sustainable Finance & Reporting
- The Switch
- Reuters Impact
- COP31
* Legal
Browse Legal
+ Government
+ Legal Industry
+ Litigation
+ Transactional
+ US Supreme Court
* Commentary
Browse Commentary
+ Breakingviews
+ ROI: Reuters Open Interest
* Technology
Browse Technology
+ Artificial Intelligence
+ Cybersecurity
+ Space
+ Disrupted
* Investigations
* Sports
+ World Cup
+ Athletics
+ Baseball
+ Basketball
+ Cricket
+ Cycling
+ Formula 1
+ Golf
+ NFL
+ NHL
+ Soccer
+ Tennis
Science
Lifestyle
+ Culture Current
City Memo
Graphics
+ Chart of the Week
Pictures
Wider Image
Podcasts
+ Reuters World News
+ Reuters Morning Bid
+ Reuters Econ World
+ On Assignment
+ Viewsroom
+ The Big View
Live
Fact Check
Video
Media Center
+ Announcements
+ Awards
+ Inside the Newsroom
+ People News
Sponsored Content
+ Reuters Plus
+ Press Releases
My NewsSign InSubscribe
OPEC+ oil producers set to keep output targets steady at Sunday meeting, sources say
By Olesya Astakhova and Ahmad Ghaddar
September 30, 20264:44 AM EDTUpdated 3 hours ago
*
*
*
*
*
*
*
*
!A view shows a pressure gauge near oil pump jacks outside Almetyevsk
A view shows a pressure gauge near oil pump jacks outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer Purchase Licensing Rights, opens new tab
* Summary
* OPEC+ November output targets to stay steady, sources say
* Gulf members output far below pre-war levels despite target hikes
* OPEC+ JMMC panel also meets on Sunday
LONDON, Sept 30 - OPEC+ oil-producing countries are likely to keep their oil production targets steady for November when they meet on Sunday, two sources with knowledge of the matter told Reuters.
Both sources spoke on condition of anonymity, and said no final decision had been made.
The Reuters Power Up newsletter by columnist Ron Bousso provides everything you need to know about the global energy industry. Sign up here.
The online meeting of seven core OPEC+ members — Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman — comes as Gulf members have been boosting exports that have been disrupted for months by the Iran war, although most are still pumping well below their output targets.
OPEC+ comprises the Organization of the Petroleum Exporting Countries and allies including Russia. OPEC and authorities in Russia did not immediately respond to requests for comment.
The group has been raising its output targets for most of the year but kept them steady for October.
In September it completed the phased rollback of a 1.65 million-barrel-per-day supply cut first agreed in 2023.
Reuters reported in July that OPEC+ was likely to make no changes to its targets during the fourth quarter as it turns its focus to 2027 quota negotiations.Disruption caused by the Iran war has meant Gulf producers are falling below their quotas.
OPEC data showed the seven core OPEC+ producers produced 25.0 million barrels per day in August, up 630,000 bpd from July yet still roughly 5 million bpd below pre-war levels in February.
OPEC+ still has one more layer of production cuts of about 2 million bpd covering most members through the end of 2026.
The group needs to finalise a review of members' production capacity before setting 2027 baselines that will determine future quotas and shape plans to unwind those cuts, sources have said.
U.S. consultant DeGolyer and MacNaughton is expected to submit its report on capacity soon.
A separate OPEC+ ministerial group called the Joint Ministerial Monitoring Committee (JMMC), which does not decide policy, also meets on Sunday to review the market.
(This story has been refiled to add a missing word in paragraph 6.)
Adds missing word, paragraph 6
Editing by Alex Lawler and Jason Neely
Our Standards: The Thomson Reuters Trust Principles., opens new tab
* Suggested Topics:
* Energy
* OPEC
*
*
*
*
*
Purchase Licensing Rights
Read Next
* 2 hours agoEnergycategory
Oil gains as stalled US-Iran talks trump supply recovery
* 1 hour agoLegalcategory
Facing climate lawsuits, Big Oil again turns to US Supreme Court
* 50 mins agoEnergycategory
Nigeria's Dangote breaks ground on $16 billion East African oil refinery in Kenya
* 55 mins agoLegalcategory
Antin to sell majority of US-based Vicinity Energy to Harrison Street
* 2 hours agoEnergycategory
How the US controls Iraq's oil revenues
Business
* Analysts raise 2026 oil forecasts on prolonged Gulf disruption
Energycategory · September 30, 2026 · 7:48 AM EDT · 11 mins ago
Analysts have raised their 2026 oil price forecasts with benchmark Brent crude expected to average nearly $90 a barrel as disruption to Gulf exports offsets concerns over demand growth.
* BusinesscategoryConagra Brands beats first-quarter profit and sales estimates
7:45 AM EDT
* EnergycategoryEnergy developer Rezolv secures €561 million loan for EU's largest solar park in Romania
7:31 AM EDT
* categoryState Bank of India buys nearly 40% of Reliance's $1.35 billion debt sale
7:28 AM EDT
* World at WorkcategoryGerman union threatens retaliation as Volkswagen plans termination of wage agreements
7:24 AM EDT
Site Index
Latest
* Home
* Authors
* Topic Sitemap
* Archive
* Article Sitemap
Media
* Videos
* Pictures
* Graphics
* Podcasts
Latest
* Home
* Authors
* Topic Sitemap
* Archive
* Article Sitemap
Browse
* World
* Business
* Markets
* Sustainability
* Legal
* Breakingviews
* Technology
* Investigations
* Sports
* Science
* Lifestyle
Media
* Videos
* Pictures
* Graphics
* Podcasts
About Reuters
* About Reuters, opens new tab
* Media Center, opens new tab
* Advertise with Us, opens new tab
* Careers, opens new tab
* Reuters News Agency, opens new tab
* Brand Attribution Guidelines, opens new tab
* Reuters and AI, opens new tab
* Reuters Leadership, opens new tab
* Reuters Fact Check
* Reuters Diversity Report, opens new tab
* Commercial Disclosure (Japan), opens new tab
Stay Informed
* Download the App (iOS), opens new tab
* Download the App (Android), opens new tab
* Newsletters
* Subscribe
Information you can trust
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world
Skip to main content
Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv
* World
Browse World
+ Africa
+ Americas
+ Asia Pacific
+ China
+ Europe
+ India
+ Iran War
+ Israel and Hamas at War
- Japan
- Middle East
- Reuters/Ipsos Polls
- Ukraine and Russia at War
- United Kingdom
- United States
- U.S. Midterm Elections
- Reuters NEXT
* Business
Browse Business
+ Aerospace & Defense
+ Autos & Transportation
+ Davos
+ Energy
+ Environment
+ Finance
+ Healthcare & Pharmaceuticals
- Media & Telecom
- Retail & Consumer
- Future of Health
- Future of Money
- Take Five
- World at Work
* Markets
Browse Markets
+ On the Money
+ Asian Markets
+ Carbon Markets
+ Commodities
+ Currencies
+ Deals
+ Emerging Markets
+ ETFs
- European Markets
- Funds
- Econ World
- Global Market Data
- Rates & Bonds
- Stocks
- U.S. Markets
- Wealth
* Sustainability
Browse Sustainability
+ Boards, Policy & Regulation
+ Climate & Energy
+ Land Use & Biodiversity
+ Society & Equity
- Sustainable Finance & Reporting
- The Switch
- Reuters Impact
- COP31
* Legal
Browse Legal
+ Government
+ Legal Industry
+ Litigation
+ Transactional
+ US Supreme Court
* Commentary
Browse Commentary
+ Breakingviews
+ ROI: Reuters Open Interest
* Technology
Browse Technology
+ Artificial Intelligence
+ Cybersecurity
+ Space
+ Disrupted
* Investigations
* Sports
+ World Cup
+ Athletics
+ Baseball
+ Basketball
+ Cricket
+ Cycling
+ Formula 1
+ Golf
+ NFL
+ NHL
+ Soccer
+ Tennis
Science
Lifestyle
+ Culture Current
City Memo
Graphics
+ Chart of the Week
Pictures
Wider Image
Podcasts
+ Reuters World News
+ Reuters Morning Bid
+ Reuters Econ World
+ On Assignment
+ Viewsroom
+ The Big View
Live
Fact Check
Video
Media Center
+ Announcements
+ Awards
+ Inside the Newsroom
+ People News
Sponsored Content
+ Reuters Plus
+ Press Releases
My NewsSign InSubscribe
OPEC+ oil producers set to keep output targets steady at Sunday meeting, sources say
By Olesya Astakhova and Ahmad Ghaddar
September 30, 20264:44 AM EDTUpdated 3 hours ago
*
*
*
*
*
*
*
*
!A view shows a pressure gauge near oil pump jacks outside Almetyevsk
A view shows a pressure gauge near oil pump jacks outside Almetyevsk, in the Republic of Tatarstan, Russia July 14, 2025. REUTERS/Stringer Purchase Licensing Rights, opens new tab
* Summary
* OPEC+ November output targets to stay steady, sources say
* Gulf members output far below pre-war levels despite target hikes
* OPEC+ JMMC panel also meets on Sunday
LONDON, Sept 30 - OPEC+ oil-producing countries are likely to keep their oil production targets steady for November when they meet on Sunday, two sources with knowledge of the matter told Reuters.
Both sources spoke on condition of anonymity, and said no final decision had been made.
The Reuters Power Up newsletter by columnist Ron Bousso provides everything you need to know about the global energy industry. Sign up here.
The online meeting of seven core OPEC+ members — Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman — comes as Gulf members have been boosting exports that have been disrupted for months by the Iran war, although most are still pumping well below their output targets.
OPEC+ comprises the Organization of the Petroleum Exporting Countries and allies including Russia. OPEC and authorities in Russia did not immediately respond to requests for comment.
The group has been raising its output targets for most of the year but kept them steady for October.
In September it completed the phased rollback of a 1.65 million-barrel-per-day supply cut first agreed in 2023.
Reuters reported in July that OPEC+ was likely to make no changes to its targets during the fourth quarter as it turns its focus to 2027 quota negotiations.Disruption caused by the Iran war has meant Gulf producers are falling below their quotas.
OPEC data showed the seven core OPEC+ producers produced 25.0 million barrels per day in August, up 630,000 bpd from July yet still roughly 5 million bpd below pre-war levels in February.
OPEC+ still has one more layer of production cuts of about 2 million bpd covering most members through the end of 2026.
The group needs to finalise a review of members' production capacity before setting 2027 baselines that will determine future quotas and shape plans to unwind those cuts, sources have said.
U.S. consultant DeGolyer and MacNaughton is expected to submit its report on capacity soon.
A separate OPEC+ ministerial group called the Joint Ministerial Monitoring Committee (JMMC), which does not decide policy, also meets on Sunday to review the market.
(This story has been refiled to add a missing word in paragraph 6.)
Adds missing word, paragraph 6
Editing by Alex Lawler and Jason Neely
Our Standards: The Thomson Reuters Trust Principles., opens new tab
* Suggested Topics:
* Energy
* OPEC
*
*
*
*
*
Purchase Licensing Rights
Read Next
* 2 hours agoEnergycategory
Oil gains as stalled US-Iran talks trump supply recovery
* 1 hour agoLegalcategory
Facing climate lawsuits, Big Oil again turns to US Supreme Court
* 50 mins agoEnergycategory
Nigeria's Dangote breaks ground on $16 billion East African oil refinery in Kenya
* 55 mins agoLegalcategory
Antin to sell majority of US-based Vicinity Energy to Harrison Street
* 2 hours agoEnergycategory
How the US controls Iraq's oil revenues
Business
* Analysts raise 2026 oil forecasts on prolonged Gulf disruption
Energycategory · September 30, 2026 · 7:48 AM EDT · 11 mins ago
Analysts have raised their 2026 oil price forecasts with benchmark Brent crude expected to average nearly $90 a barrel as disruption to Gulf exports offsets concerns over demand growth.
* BusinesscategoryConagra Brands beats first-quarter profit and sales estimates
7:45 AM EDT
* EnergycategoryEnergy developer Rezolv secures €561 million loan for EU's largest solar park in Romania
7:31 AM EDT
* categoryState Bank of India buys nearly 40% of Reliance's $1.35 billion debt sale
7:28 AM EDT
* World at WorkcategoryGerman union threatens retaliation as Volkswagen plans termination of wage agreements
7:24 AM EDT
Site Index
Latest
* Home
* Authors
* Topic Sitemap
* Archive
* Article Sitemap
Media
* Videos
* Pictures
* Graphics
* Podcasts
Latest
* Home
* Authors
* Topic Sitemap
* Archive
* Article Sitemap
Browse
* World
* Business
* Markets
* Sustainability
* Legal
* Breakingviews
* Technology
* Investigations
* Sports
* Science
* Lifestyle
Media
* Videos
* Pictures
* Graphics
* Podcasts
About Reuters
* About Reuters, opens new tab
* Media Center, opens new tab
* Advertise with Us, opens new tab
* Careers, opens new tab
* Reuters News Agency, opens new tab
* Brand Attribution Guidelines, opens new tab
* Reuters and AI, opens new tab
* Reuters Leadership, opens new tab
* Reuters Fact Check
* Reuters Diversity Report, opens new tab
* Commercial Disclosure (Japan), opens new tab
Stay Informed
* Download the App (iOS), opens new tab
* Download the App (Android), opens new tab
* Newsletters
* Subscribe
Information you can trust
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world
🔗 Share Article
Tags:#أوبك+#النفط#الإنتاج#الخليج#أسواق الطاقة#الحرب الإيرانية
Source: Google News Reuters
For Context
Related reads from the same topic or latest developments
