Major OPEC+ countries are planning to leave oil production quotas unchanged in December, according to ChainCatcher, which cited two OPEC+ representatives. The report said the decision comes as conflict in the Middle East continues to affect output. A seven-country group led by Saudi Arabia and Russia has already reached an agreement in principle to maintain the current quota target. The arrangement is expected to be finalized at an upcoming video meeting. The report did not provide additional details on the meeting date or any changes beyond the current quota framework.
Major OPEC+ countries plan to keep oil production quotas unchanged in December, according to ChainCatcher, citing two OPEC+ representatives. The report said the move comes as conflict in the Middle East continues to affect output.
A seven-country group led by Saudi Arabia and Russia has reached an agreement in principle to maintain the current quota target. The plan is expected to be finalized at an upcoming video meeting.
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