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Key OPEC+ members are leaning toward keeping their targeted oil production quotas unchanged for November, with the alliance set to hold a virtual meeting on Oct. 4, Bloomberg reported. 
Delegates from the alliance said member countries intend to maintain another tranche of voluntary production cuts agreed in 2022 through at least the end of the year.
The move comes after member countries completed their plan to unwind a separate package of supply cuts introduced in 2023.
Meanwhile, oil flows from the Middle East, which were largely disrupted by the US-Iran war, have recently shown signs of recovery, although substantial volumes of regional production remain offline.
Logo ofOPEC
Key OPEC+ members are leaning toward keeping their targeted oil production quotas unchanged for November, with the alliance set to hold a virtual meeting on Oct. 4, Bloomberg reported.
Delegates from the alliance said member countries intend to maintain another tranche of voluntary production cuts agreed in 2022 through at least the end of the year.
The move comes after member countries completed their plan to unwind a separate package of supply cuts introduced in 2023.
Meanwhile, oil flows from the Middle East, which were largely disrupted by the US-Iran war, have recently shown signs of recovery, although substantial volumes of regional production remain offline.
