OPEC+ agrees to keep November oil output targets steady
The seven producers extended their voluntary cuts phaseout and kept combined output at 31.01 million barrels per day.
- Seven OPEC countries—Russia, Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman—agreed on Sunday to maintain their current oil production levels throughout Nov, the organization said.
- Under an agreement reached on Sept 4, the seven OPEC countries decided to maintain production levels in Oct. Since September, these nations increased their maximum permitted oil production by 188,000 barrels per day.
- Individual quotas for Nov remain at Sept levels: Russia at 9.949 million bpd, Saudi Arabia at 10.478 million bpd, Iraq at 4.431 million bpd, Kuwait at 2.676 million bpd, Algeria at 1.007 million bpd, Oman at 841,000, and Kazakhstan at 1.628 million.
- The Joint Ministerial Monitoring Committee reviewed crude oil production data from July and August 2026 and noted overall compliance with the Declaration of Cooperation , according to a communiqué issued after Sunday's meeting.
- Monthly meetings will continue as the seven OPEC countries monitor market conditions, with the next session scheduled for Nov 1, 2026, to reassess production parameters.
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7 oil exporters agree to keep production steady this November as Iran war disrupts global supplies
Seven major oil-exporting countries agreed Sunday to keep production steady in November at a time when the Iran war has driven the price of benchmark Brent crude oil above $100 a barrel.The so-called OPEC+ subgroup — Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman — will meet again on Nov. 1 to review conditions in the oil market.The fighting with Iran, which began with U.S. and Israeli attacks on Feb. 28, has disrupted global o…
MONEY & BUSINESS: Major oil exporters agree to keep production steady in November – One America News Network
By THE ASSOCIATED PRESSUpdated 7:58 PM PDT, October 4, 2026 A gull flies overhead as a boy stands with his bicycle on a beach overlooking commercial vessels anchored in the Strait of Hormuz off Bandar Abbas, Iran, Monday, Sept. 7, 2026. (AP Photo/Vahid Salemi, File) Seven major oil-exporting countries agreed Sunday to keep production steady in November at a time when the Iran war has driven the price of benchmark Brent crude oil above $100 a bar…
OPEC members and allies will maintain stable oil supplies until the end of autumn to preserve market balance after a cycle of production cuts.
OPEC+ Agrees to Keep Oil Production Steady
The Astana Times provides news and information from Kazakhstan and around the world. ALMATY – The seven OPEC+ countries participating in additional voluntary production adjustments, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, have agreed to maintain their current oil production levels in November. The decision was made during an Oct. 4 virtual meeting to review global oil market conditions and the outlook. Under the agreeme…
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