OPEC+ oil producers are likely to keep their oil production targets steady for November when they meet on Sunday, two sources with knowledge of the matter told Reuters.

The online meeting of seven core members — Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman — comes as the group shifts focus to 2027 quota negotiations. No final decision had been made, the sources said.

The group kept its October targets unchanged at its September 6 meeting. In September it completed the phased rollback of a 1.65 million-barrel-per-day supply cut first agreed in 2023.

OPEC data showed the seven core producers produced 25.0 million barrels per day in August, up 630,000 barrels per day from July but still roughly 5 million below pre-war levels in February. The Iran war has kept Gulf producers well below their targets.

The group still has another layer of cuts of about 2 million barrels per day through the end of 2026. A separate monitoring committee also meets on Sunday to review the market.