11:34 - 5.10.2026

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October 5, Fineko/abc.az. The OPEC+ alliance decided to roll over its November crude oil production targets following a brief online meeting on Sunday. The decision by seven core members—Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman—aligned with market expectations.

Despite maintaining official quotas, actual output among Gulf producers remains well below target levels due to export disruptions tied to ongoing regional conflicts, with recent exports running at 60% to 80% of normal volumes. UBS analyst Giovanni Staunovo noted that while flows through the Strait of Hormuz have increased, production shortfalls continue to keep global oil markets tight, maintaining Brent crude above $100 per barrel. The group's next meeting is scheduled for November 1.