Wary of a global economic slowdown, OPEC and its allies will trim their production quotas by 100,000 b/d in October, despite what appears to be a tight physical market, as the group seeks to put a floor under slumping oil prices. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The decision, made in yet another brief meeting Sept. 5 with no extended debate, will mark the alliance’s first reduction in output targets in 22 months and return quotas to August levels, when OPEC’s 13 members aimed to pump 26.689 million b/d, while Russia and eight other partners committed to 15.414 million b/d, for a combined ceiling of 42.103 million b/d. In practice, however, with the bulk of OPEC+ countries already struggling to reach their quotas, not much supply will be lost. Ministers are scheduled to convene again Oct. 5 to decide on November […]