Seven OPEC+ producers kept December oil requirements at September levels, while FXStreet reported WTI near $101.20 a barrel and Iran described unresolved Hormuz talks.
The Organization of the Petroleum Exporting Countries (OPEC) said the producers left December 2026 requirements unchanged from September 2026 levels after a virtual review Nov. 1. The seven producers are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman. EconoTimes previously covered the December production decision.
OPEC lists Saudi Arabia’s requirement at 10.478 million barrels per day, Russia’s at 9.949 million barrels per day and Iraq’s at 4.431 million barrels per day. Those figures are required production levels, not verified output.
FXStreet’s report, published at 7:59 p.m. ET Sunday (00:59 UTC Monday), said WTI was near $101.20 during Asian trading after three sessions of gains. The outlet did not identify the futures contract month.
Iran’s IRNA news agency reported that Foreign Minister Abbas Araghchi said Doha consultations with Qatari mediators on a two-day proposal to reopen the Strait of Hormuz had not reached a settled result. IRNA also said Iranian representatives were not scheduled to hold direct talks with U.S. officials during the visit.
Reuters separately reported that the discussions had reached a third consecutive day on Sunday, citing an official briefed on the talks.
OPEC said the seven producers will hold their next monthly review Nov. 29.
