Opec+ keeps December oil production quotas steady amid ongoing Middle East war

The Opec+ alliance has decided to leave its crude production quotas unchanged for December, keeping output targets at September levels as regional conflict continues to interrupt global energy distribution.

Core participants in the coalition—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman—concluded a meeting on Sunday with an agreement to retain their existing requirements for December 2026. According to a group statement, the decision followed an assessment of prevailing market conditions and future economic trends.

The seven nations share an aggregate production goal of roughly 31 million barrels per day for December, matching the levels assigned for September, October and November. Saudi Arabia holds the largest individual quota at 10.478 million barrels per day, followed by Russia at 9.949 million barrels per day and Iraq at 4.431 million barrels per day. The remaining allocations assign 2.676 million barrels per day to Kuwait, 1.628 million barrels per day to Kazakhstan, 1.007 million barrels per day to Algeria, and 841,000 barrels per day to Oman.

Despite these established targets, the majority of participating countries are pumping below their designated allowances due to disruptions linked to ongoing warfare. The alliance concluded the reversal of 1.65 million barrels per day in voluntary output reductions in September, while a separate agreement from 2022 to withhold two million barrels per day remains active through the end of the year. Delegations are also evaluating national capacity metrics to determine individual baselines for 2027.

Maritime and energy operations across the Middle East face severe operational hurdles. The Strait of Hormuz, historically responsible for transporting about a fifth of the planet's crude oil and liquefied natural gas, has been effectively closed since military hostilities between the United States and Iran erupted on February 28. Maritime tracking figures revealed that October saw at least 35 strikes on merchant shipping in and around the waterway, marking the highest monthly tally since the conflict began.

Tensions have broadened further with recurrent cross-border operations by Yemen's Houthi movement. Saudi authorities reported on Saturday that military defenses intercepted and eliminated an incoming drone over Riyadh, coming after dozens of strikes against Saudi assets in previous weeks. In Washington, President Donald Trump stated that the confrontation would conclude soon, though Israeli press reports suggest regional military planners are preparing for potential further rounds of combat.

Crude benchmarks rose on Friday, ending higher by over two percent to reach six-month peaks and complete four consecutive months of increases. Brent finished up 2.4 percent at $117.64 per barrel after briefly reaching $118, while West Texas Intermediate settled 2.08 percent higher at $104.12 per barrel. Opec+ delegates will reconvene for their next monthly assessment on November 29.