OPEC+ seen keeping oil output unchanged at Sunday’s meeting

OPEC+ is expected to keep oil production unchanged

OPEC+ is likely to leave output levels unchanged at its meeting on Sunday while focusing talks on a theoretical topic of how much oil its members can produce so the group can decide future policies, three OPEC+, according to Reuters, citing informed sources.

OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, pumps about half the world's oil and has been discussing for years production capacity figures - or baselines - against which members' output targets are set.

The alliance discussed this issue at a meeting last September, and one source indicated that any change to a member country's production quota at the upcoming meeting will require the unanimous approval of the group.

This comes after a group of eight members, which had previously agreed to voluntary production cuts, raised the production ceiling by approximately 2.9 million barrels per day in total for the period from April to December, with a freeze on any increases during the first quarter of 2026.