OPEC+ may keep December output targets unchanged, Awras reports

Seven OPEC+ oil producers, including Algeria, are heading towards keeping December 2026 output targets unchanged, which would mean no new change to Algeria's target, according to Awras.

The seven countries are Algeria, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan and Oman. According to Awras, they reached the agreement in principle before a meeting planned for Sunday.

The meeting is due to take place online.

Algeria kept its oil output at 1.007 million barrels a day in November 2026, with no rise on the October level. According to Awras, the official decision of the alliance is still awaited.

Awras also reports that some Gulf states are raising oil exports after months of disruption linked to the war in Iran. Most of these states still produce below their targets.

The alliance ended in September its gradual rollback of cuts of 1.65 million barrels a day, which were agreed in 2023. A further layer of cuts of about two million barrels a day, covering most members, remains in place until the end of the year.

The alliance is waiting for a review of members' production capacity, due in the final quarter of the year. It will then set new baselines for 2027, which will decide future quotas and plans for the remaining cuts.

Talks on production quotas for 2027 come next.