OPEC+ likely to keep oil output policy unchanged on Sunday, sources say

OPEC+ is expected to keep its October oil output policy unchanged at an online meeting on Sunday at 1100 GMT, three sources told Reuters. The group has largely finished unwinding one layer of production cuts this month and is shifting attention to 2027 quota negotiations. The impact of OPEC+ supply decisions on prices and market share is now more limited as Iran war-related disruptions reduce the group’s leverage over exports through the Strait of Hormuz. Seven core members—Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman—will discuss the next steps. Output has lagged quota plans due to disruptions in the Gulf, Russia, and Kazakhstan.