OPEC+ will leave crude production quotas unchanged for November when the group's key producers meet this weekend, according to anonymous sources familiar with the plans who spoke to Reuters on Wednesday.

The decision, if confirmed at the meeting, would extend the supply policy that the eight core producers have carried through successive monthly gatherings: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. At the early-September meeting, that cohort opted to roll over the September 2026 required production quotas into October 2026, and delegates now indicate November will bring the same outcome.

The holding pattern reflects a market that has changed shape since the Iran war crippled tanker traffic through the Strait of Hormuz. Gulf producers inside OPEC+ have been producing and exporting at much lower volumes since the disruption began, according to the Reuters report, which cited sources familiar with the group's planning.

For refiners and cargo planners, a rollover vote means no new barrels are formally released onto the market — but the formal quotas have told only part of the story for months. Actual loadings from Gulf terminals have run below allowed levels while Hormuz transit remains constrained, leaving the effective supply picture tighter than the quota arithmetic suggests.

The weekend meeting follows the group's established cadence of monthly decisions on scheduled output hikes or holds, a mechanism that replaced the fixed quarterly schedule and gives the producer bloc a faster lever when demand or price signals shift. The same seven producers plus Kuwait form the core of the voluntary-cuts coalition that has managed supply since the series of adjustments began.

Reuters attributed the rollover expectation to anonymous sources familiar with the plans, and the report did not preview any discussion of deeper cuts or accelerated unwinding of voluntary reductions. No delegate commentary beyond the anonymous sourcing appeared in the report.

The market's attention now turns to the weekend gathering itself. The watch items are straightforward: whether the eight producers confirm the November rollover as delegates signal, whether the group issues any guidance on December that hints at the pace of future supply returns, and — the variable that overrides quota policy entirely — any movement in Hormuz transit volumes that would let Gulf exporters push loadings back toward allowed levels.