OPEC+ likely to keep oil output policy unchanged on Sunday, sources say

LONDON, Sept 2 (Reuters) - OPEC+ is likely to keep its oil output policy unchanged for October at a meeting on Sunday, three sources close to the matter told Reuters, as the producer group completes the unwinding of one layer of production cuts this month and turns its focus to 2027 quota negotiations.

The meeting comes as the Iran war continues to disrupt oil exports through the Strait of Hormuz, reducing OPEC+'s influence over prices and market share. Unlike in the past, the group's supply decisions now have a more limited impact on the market.

Sunday's meeting will involve seven core OPEC+ members: Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman. The countries have been raising monthly production quotas for most of this year. Their online meeting is expected to begin at 1100 GMT, two of the sources said.

In practice, however, actual output has lagged the planned quota increases as the wars in Iran and Ukraine disrupted exports from the Gulf, Russia and Kazakhstan.