OPEC+ to maintain November oil production quotas amid conflict
OPEC+ plans to keep November oil production quotas unchanged as the Middle East conflict impacts output. Oil prices approach $100 per barrel, prompting G7 countries to release up to 100 million barrels of emergency stocks to manage supply pressures.
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OPEC+ is set to keep oil production quotas steady in November as the Middle East conflict hampers output. A coalition led by Saudi Arabia and Russia aims to finalize this decision during an upcoming video conference. Oil prices are nearing $100 per barrel, influenced by supply disruptions and record diesel prices at the pump.
• G7 countries announced a release of up to 100 million barrels of emergency stocks to mitigate rising prices.
This decision reflects OPEC+'s commitment to its existing production roadmap, pausing further quota increases through 2026.
Not investment advice. For informational purposes only.