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00:02OPEC Plus kept its December oil production targets unchanged on Sunday,
00:07as the Iran war continues to disrupt exports, according to CNBC.
00:11Seven core members agreed to maintain current levels,
00:15with most Gulf producers still pumping below their targets.
00:18The decision shifts attention to a November 29th meeting,
00:22when the 21 country group is expected to establish production quotas for 2027.
00:27Reuters reports that the Iran war has disrupted projects
00:30to expand oil production capacity across the Middle East.
00:34Meanwhile, forecasters warn of excess supply in 2027 if Gulf exports return to normal.
00:40Oil prices rose more than 2% on Friday, reaching their highest levels since April,
00:45as traders braced for a potential escalation in the Iran war.
00:49Brent crude futures for December settled at $117.64 a barrel,
00:55while U.S.-West Texas Intermediate crude closed at $104.12.
01:00For all things money, visit Benzinga.com.
