Shafaqna English– According to three sources with direct knowledge of the matter who spoke to Reuters, OPEC+ is expected to maintain its current crude output strategy for October without any adjustments when the group convenes for its scheduled meeting on Sunday.
This decision comes as the producer alliance is in the final stages of phasing out one specific layer of its existing production cuts during the current month. Having nearly completed that process, the group is now shifting its strategic attention toward longer‑term planning, specifically the negotiation of production quota allocations for the year 2027, which will shape its market approach for the coming years.
This weekend’s meeting takes place against a backdrop of persistent geopolitical disruption, as the ongoing war with Iran continues to severely constrain oil export flows through the strategic Strait of Hormuz. This critical chokepoint disruption has had the effect of diminishing OPEC+’s traditional leverage over global crude prices and its ability to influence market share dynamics.
Historically, the group’s supply adjustments would move markets significantly, but the current circumstances have rendered its production decisions less consequential, as external factors—namely geopolitical tensions and supply route vulnerabilities—now play a more dominant role in price formation than the group’s internal policy choices.
Source: Reuters