OPEC+ members Saudi Arabia and Russia agreed in principle to maintain current oil production targets for December. The market largely expected this decision. It awaits finalization at a formal meeting on Sunday.
The producer group reportedly holds its policy steady. It shifts focus to negotiations on new production baselines for 2027 quotas. Many member countries produce below their current allotments due to supply disruptions. A separate voluntary cut of about 2 million barrels per day also remains in place.