Business news · Commodities · 04 Oct 2026
IN Oil Gas & Consumable Fuels Chemicals Services
Seven core OPEC+ members - Saudi Arabia, Iraq, Kuwait, Oman, Algeria, Russia and Kazakhstan - agreed on Sunday to keep November production requirements at September's level, a joint quota of 31 million barrels a day. It is the second month without a change. The group finished unwinding 1.65 million barrels a day of voluntary cuts in September and keeps a further 2 million barrels a day of cuts in place to the end of the year. Brent settled at $102.25 a barrel on Friday. The next meeting is on November 1.
No extra barrels are scheduled for November, and the report notes most members already pump below their targets because the conflict that began on February 28 has effectively closed the Strait of Hormuz. For India, which imports most of its crude, that leaves the cost line unchanged for refiners and fuel retailers, and for crude-linked inputs used by airlines, paint, chemical and plastics makers. Upstream producers earn more per barrel at these prices. The decision itself changes nothing in supply, so its direct effect is small; it removes one possible source of relief before the RBI's rate decision on October 7.
Reported by The National — “Opec+ keeps oil output targets unchanged for November” ↗ on 04 Oct 2026.
NSE stocks, from the last close on or before 04 Oct 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Oil Gas & Consumable Fuels | 19 | -0.2% | 9 of 19 | +0.1 pts |
| Chemicals | 47 | -0.3% | 22 of 47 | -0.0 pts |
| Services | 30 | +0.2% | 17 of 30 | +0.5 pts |
| All tracked stocks | 804 | -0.3% | 383 of 804 | — |
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