OPEC+ agrees in principle to hold December output steady

· Energy · Saudi Arabia

Seven core OPEC+ members agreed in principle at an online meeting on Sunday to keep oil output targets steady in December, according to sources cited by CNBC. The decision comes as Gulf members have been boosting exports that were disrupted for months by the war with Iran, and as markets weigh supply risks from the conflict. Holding targets steady would leave the group's production levels unchanged into the end of the year. The meeting involved the group's core members rather than the full membership.

Why it matters：OPEC+ output choices directly affect global oil prices and inflation, and keeping supply steady signals the group is not rushing to offset war-related disruptions.

Key points

  • Seven core OPEC+ members took part in Sunday's online meeting.
  • Gulf producers have been raising exports disrupted for months by the war with Iran.
  • Output targets would stay unchanged through December.

Sources (original reporting)

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