OPEC+ Set to Hold December Oil Output Targets Steady at Sunday Meeting

OPEC+ members are expected to keep their December oil production targets unchanged at a ministerial meeting on Sunday, according to multiple sources familiar with the discussions. The decision to stand pat reflects a period of limited policy leverage for the group, as the ongoing Iran conflict continues to disrupt oil exports through the Strait of Hormuz, curbing the real-world impact of any output decisions the alliance might otherwise make.

Gulf exports are reported to be recovering, providing some stability that reduces pressure on members to act. Analysts note that focus within the group is now shifting away from monthly output adjustments and toward the more consequential negotiations over production quotas for 2027, a debate expected to unfold later in the year.

The Sunday gathering involves a core group of seven OPEC+ members including Saudi Arabia and Russia. The alliance still holds roughly 3.24 million barrels per day of output cuts in place, representing around 3 percent of global demand, and those are not expected to be altered at this meeting.