OPEC+ may keep output unchanged at November meeting

VTV.vn - The Organization of the Petroleum Exporting Countries (OPEC) and its partners, also known as the OPEC+ group, are likely to keep production unchanged at their meeting on November 30.

OPEC+ likely to keep output unchanged at upcoming meeting

The Organization of the Petroleum Exporting Countries (OPEC) and its partners, known as OPEC+, are likely to keep production unchanged at their meeting on November 30, while focusing on discussing members' production capacity as a basis for deciding future policies, sources familiar with the matter said.

OPEC+ had been cutting output for several years until April 2025, when the eight members began increasing production to regain market share. The cuts peaked in March 2025, reaching 5.85 million barrels a day, or nearly 6% of global output. The eight members increased their production targets by about 2.9 million barrels a day from April to December 2025 and agreed at their last meeting in November 2025 to pause increases in the first quarter of next year because of the risk of oversupply. Three sources said OPEC+ was unlikely to make any changes to its production policy for the first quarter of 2026 or consider changing the overall 2026 output level agreed at its last meeting in May 2025.

OPEC+ pumps about half the world 's oil and has discussed for years the production capacity figures that members use to set their production targets. At the meeting, ministers are expected to discuss a mechanism to assess countries' maximum production capacity, which will serve as a reference for 2027 baseline production levels. OPEC+ discussed the issue in September 2025 at a technical level.

OPEC+ has struggled to find compromises with some members, such as Nigeria, which wants a higher output quota given its limited unused capacity, according to the International Energy Agency. The United Arab Emirates, meanwhile, still has spare capacity after achieving a modest increase in its share of OPEC+ output this year. Angola left the group in 2024 over disagreements over output targets. An OPEC+ source said any quota changes at the meeting would need to be approved by all members.

Source: https://vtv.vn/opec-co-the-giu-nguyen-san-luong-tai-cuoc-hop-thang-11-100251126212523744.htm