OPEC+ agrees to keep November oil output targets steady

OPEC+ agreed to keep oil production targets steady for November at a meeting on Sunday, the producer group said, in line with expectations that further output policy adjustments are unlikely until next year. Seven core members of the group comprising the Organization of the Petroleum Exporting Countries and allies including Russia made the decision for November in a brief online meeting on Sunday. The core members are Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman. Gulf OPEC+ producers have been pumping well below output targets in the face of continuing export disruptions from the U.S.-Israeli war on Iran , with exports fluctuating at 60% to 80% of normal levels in recent months.