OPEC+ to Maintain December Oil Production Targets
OPEC+ members will meet Sunday to maintain steady oil production targets for December while shifting focus toward 2027 quota negotiations.
OPEC+ oil-producing countries are expected to keep oil production targets steady for December during an online meeting scheduled for Sunday. The session includes core members Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman.
The group is transitioning its focus toward 2027 quota negotiations. These talks require a finalized review of member production capacity to establish future baselines and determine how to unwind existing cuts. Most members currently maintain production cuts of approximately 2 million barrels per day through the end of 2026, following a phased rollback of a 1.65 million-barrel-per-day cut completed in September.
While Gulf members have increased exports in response to disruptions caused by the Iran war, the majority of the group continues to pump below their established output targets.
