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OPEC Plus announced that it has decided to keep oil production quotas unchanged for October, despite its declining influence due to the ongoing war in Iran, which hampers oil exports through the Strait of Hormuz. Although an agreement was reached to increase production in August, the war prevented the full implementation of these increases. As a result, OPEC Plus's ability to influence the oil market remains limited, with current focus shifting to reviewing production capacity to determine quotas for 2027. Oil prices have significantly risen recently, as tensions in the Middle East continue to impact global energy markets.
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