OPEC+ set to maintain oil output policy unchanged at Sunday meeting

OPEC+ will keep its oil output policy unchanged when the alliance meets this Sunday, choosing to hold production levels flat for October 2026 after completing a months-long rollback of voluntary cuts. The rollback is done, now what The final piece of the unwinding landed in September 2026, a 188,000 bpd increase that capped a phased return of barrels that had been withheld since 2023. With that rollback complete, the alliance’s seven core members, Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman, appear content to let the market digest the additional supply before making any further moves. A separate, broader set of OPEC+ cuts totaling roughly 2 million bpd, first introduced in 2022, remains firmly in place through December 31, 2026. The September 6-7 meeting to confirm October policy is expected to be largely procedural. The real action is happening behind the scenes, where a capacity review due by the end of September will feed directly into fourth-quarter negotiations over 2027 production quotas. Geopolitics are doing OPEC+’s job for it The ongoing conflict involving Iran has disrupted exports flowing through the Strait of Hormuz, the narrow waterway that handle...