Jorge Leon

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OPEC+ holds December targets steady as Iran war clouds 2027 quotas

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Seven OPEC+ countries met online Sunday and left their December production targets unchanged. It was the third month in a row with no adjustment. The targets also sit well above what several of them actually pump.

Updated 1 hour ago

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Today's decision was the easy one. The much more important test comes at the Nov. 29 ministerial meeting, when OPEC+ will decide its 2027 production framework.

from OPEC+ holds December targets steady as Iran war clouds 2027 quotas · Updated 1 hour ago

OPEC+ faces an extremely difficult call for 2027. The group has to plan around huge uncertainty over the US-Iran war, the pace of recovery through the Strait of Hormuz, and the size of the surplus that could emerge once disrupted barrels return.

from OPEC+ holds December targets steady as Iran war clouds 2027 quotas · Updated 1 hour ago