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OPEC+ set to hold December oil quotas steady amid Middle East output curbs

Bloomberg ·
  • Two OPEC+ delegates say major members plan to keep oil production quotas unchanged in December.
  • A seven-country subgroup led by Saudi Arabia and Russia has an agreement in principle to maintain current targets, per the delegates.
  • The finalizing video conference is scheduled for Sunday.
  • The delegates describe the plan as consistent with a roadmap outlined earlier this year.
  • Conflict in the Middle East continues to curb a portion of the group's output, per the report.

Quotes

“A subgroup of seven countries led by Saudi Arabia and Russia has an agreement in principle to maintain current targets”— Two OPEC+ delegates

Sources