MOSCOW: The seven OPEC+ nations, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, have agreed keep oil production...
MOSCOW: The seven OPEC+ nations, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, have agreed keep oil production quotas in October at the September, OPEC said.
"The seven OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 6 September 2026, to review global market conditions and outlook," it said. "The seven participating countries decided to maintain September 2026 required production for October 2026."
As follows from the OPEC table, Russia’s quota in October 2026 will stand at 9.949 mln barrels a day, Saudi Arabia’s at 10.478 mln barrels a day, Iraq’s - at 4.431 mln barrels a day, Kuwait’s - at 2.676 mln barrels a day, Kazakhstan’s - at 1.628 mln barrels a day, Algeria’s - at 1.007 mln barrels a day, and Oman’s - at 841,000 barrels a day. The overall OPEC+ quota for October, minus compensations, will stand at 31.01 million barrels a day.
"The seven countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation," OPEC said. "The seven OPEC+ countries will continue to hold monthly meetings to review market conditions."
The next OPEC+ meeting will be held on October 4.
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