OPEC+ Holds November Quota at 31.01M bpd, Output Lags

OPEC+ kept its November production quota unchanged at 31.01 million bpd for the eight covered members, matching expectations. Actual output in August was only 25 million bpd, well below quota, indicating limited spare capacity and potential supply tightness. The decision comes amid Middle East supply concerns, but the gap between quota and actual production suggests the market impact is muted.