The details from the OPEC+ meeting:
OPEC reaffirms the level of overall crude oil production for OPEC and non-OPEC participating countries in the DoC as agreed in the 38th OPEC and non-OPEC Ministerial Meeting until 31 December 2026
OPEC+ has agreed to use 2025 oil output levels for 2027 baseline, source says
OPEC+ to mandate the OPEC Secretariat to develop a mechanism to assess participating countries’ maximum sustainable production capacity (MSC) to be used as reference for 2027 production baselines
OPEC says it is to closely review global oil market conditions, oil production levels, and the level of conformity with the DoC, assisted by the OPEC Secretariat
OPEC+ to meet next on Nov 30
This article was written by Greg Michalowski at www.forexlive.com.