Seven key OPEC+ participants, including Russia and Saudi Arabia, intend to keep December production quotas unchanged, Reuters reports sources indicate. The decision is expected on November 1. However, the alliance's influence on the global oil market has weakened considerably. In August, the Reuters news agency noted that OPEC+ resolutions have almost stopped passing quotes: the war with Iran, damage to infrastructure and restrictions on shipping deprive producers of the ability to arrange immediate supplies. According to the IEA, in September, the production of the parties to the agreement was 5.42 million barrels per day below the established quotas. Saudi Arabia missed 2.18 million dollars, Russia - 1.52 million, Kuwait - 1.18 million. Kazakhstan, however, exceeded the quota by 240 thousand b / d. Energy analyst Raisted Horaun points out that OPEC+ can change quotas on paper, but there is much weaker control over real supply. The oil economist also notes the growing gap between official alliance decisions and the physical market. At the same time, the shortage of oil products continues. According to the IEA's October report, total diesel exports from Russia and the Middle East in September fell by 1.3 million b/d in annual terms. Therefore, OPEC+ looks more and more like a platform for agreeing on future market shares, rather than a tool for quick price regulations. As long as supply depends on war, logistics, and refining conditions, quota decisions are of limited practical importance.

Seven key OPEC+ participants, including Russia and Saudi Arabia, intend to keep December production quotas unchanged, Reuters reports sources indicate. The decision is expected on November 1. However, the alliance's influence on the global oil market has weakened considerably. In August, the Reuters news agency noted that OPEC+ resolutions have almost stopped passing quotes: the war with Iran, damage to infrastructure and restrictions on shipping deprive producers of the ability to arrange immediate supplies. According to the IEA, in September, the production of the parties to the agreement was 5.42 million barrels per day below the established quotas. Saudi Arabia missed 2.18 million dollars, Russia - 1.52 million, Kuwait - 1.18 million. Kazakhstan, however, exceeded the quota by 240 thousand b / d. Energy analyst Raisted Horaun points out that OPEC+ can change quotas on paper, but there is much weaker control over real supply. The oil economist also notes the growing gap between official alliance decisions and the physical market. At the same time, the shortage of oil products continues. According to the IEA's October report, total diesel exports from Russia and the Middle East in September fell by 1.3 million b/d in annual terms. Therefore, OPEC+ looks more and more like a platform for agreeing on future market shares, rather than a tool for quick price regulations. As long as supply depends on war, logistics, and refining conditions, quota decisions are of limited practical importance.