A key group of oil producers chose to stand still. In a virtual meeting on Sunday, seven OPEC+ countries agreed to keep their required production for November at September levels, the OPEC Secretariat said in a statement. PBS and the New York Post also reported the decision.

The seven are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman. Their combined target is about 31 million barrels a day. Saudi Arabia's share is about 10.5 million barrels a day and Russia's about 9.9 million, according to OPEC's figures. The group will meet again on Nov. 1.

Holding steady is a cautious move. Prices are already high because of the war with Iran and attacks on tankers near the Strait of Hormuz. Adding more oil could ease prices, but members worry about flooding the market if shipping returns to normal. Cutting output could push prices even higher and anger big buyers.

Some background: OPEC+ is a partnership between the Organization of the Petroleum Exporting Countries and other producers, led by Russia. It formed in 2016 to manage supply and prices. The group cut output deeply during the pandemic and began adding barrels back over the past two years.

Not every member can pump its full quota. Gulf producers that rely on the Strait of Hormuz have had trouble shipping oil this year,. Meanwhile, Iran's oil minister resigned over the weekend, adding to uncertainty in a country that is an OPEC member but not part of this group of seven.

Brent crude was trading near $101 a barrel Monday. U.S. gas prices averaged about $4.37 a gallon.

For consumers, the decision means no new relief from producers, at least not until the November meeting.

What we know: The seven countries kept November targets at about 31 million barrels a day.
What we don't: Whether the group will change course at its Nov. 1 meeting.