OPEC+ oil-producing countries have agreed in principle to keep their December output targets steady, according to three people familiar with the matter. The decision was made during an online meeting of seven key members, suggesting that no further changes to production policy will occur until next year. Most Gulf members are still producing well below their quotas because of disruptions caused by the war with Iran. The group completed the phased rollback of a 1.65 million-barrel-per-day supply cut in September, while another layer of cuts totaling about 2 million barrels per day remains in place through the end of 2026. Oil prices rose by more than 2% on Friday as investors prepared for a potential escalation of the conflict.
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