OPEC+ to Hold November Output Targets Steady Amid Hormuz Crisis
🛢️ OPEC+ — Steady output at Brent above $100 is a policy choice, not inertia. 📌 LOOK CLOSER: With Hormuz choking ~85% of Gulf flow, holding targets means no compensatory surge — members pump commitments, not what markets need. Riyadh could boost via East-West pipeline but won't without political cover. For Europe, this locks in $100+ through winter. For Washington, it removes a pressure valve and keeps the economic pain on allies, not Tehran.
