OPEC+ keeps November oil quota steady; group signals no major supply shifts before 2027. A coalitions-led effort to stabilize prices amid market volatility.
OPEC+ has agreed to increase oil output by 188,000 barrels per day from August, marking the fifth straight monthly rise. While the move signals a cautious unwind of earlier cuts, oil supplies remain constrained by the Strait of Hormuz and ongoing regional tensions. Prices have edged back toward pre-war levels as shipping resumes.
Oil prices have risen this week after U.S. officials narrowed a waiver to the Jones Act for energy shipments and data showed U.S. crude stocks have fallen to multi-decade lows. Traders are parsing mixed statements from Washington and Tehran about talks to reopen the Strait of Hormuz while reparations demands have emerged, keeping markets volatile on 11 Aug 2026.
OPEC+ has decided to increase output by 188,000 barrels per day from September 2026, a move designed to stabilise markets and compensate for past overproduction. Nigeria remains under its DoC allocation and will not see changes to its targets as it seeks to raise crude output. The group will meet again on Sept. 6 to review conditions and consider further adjustments.
OPEC+ has kept October output targets unchanged while it reviews capacity and sets 2027 baselines, amid Iran disruption and discussions on unwinding current cuts. The group plans to pause further increases in Q4 as it evaluates members' capacity and future quotas.
Core OPEC+ members have kept November production ceilings unchanged as the group faces continued disruption from the U.S.-Israel war on Iran. Output remains well below prewar levels, with a capacity review delayed by geopolitical tensions; the next meeting is scheduled for November 1.