Saudi Arabia and six OPEC+ nations keep oil output steady for October
Saudi Arabia and six OPEC+ countries agreed to maintain oil production quotas unchanged for October following a virtual meeting on Sunday.
Saudi Arabia and six other OPEC+ nations decided to maintain their oil production quotas unchanged for October, following a virtual meeting on Sunday, as expected. The seven member countries—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—held the meeting on September 6, 2026, to assess global oil market conditions and future outlook.
The participating nations agreed to stick to the production levels set for September 2026 for the whole of October 2026, as outlined in a statement. The seven countries reiterated their commitment to fully comply with the OPEC+ framework's Declaration of Cooperation. They also affirmed their intention to continue holding monthly meetings to monitor oil market developments and evaluate supply and demand conditions, with the next gathering planned for October 4, 2026.
The decision to keep production levels steady comes amid the ongoing conflict in Iran, which continues to disrupt oil exports through the Strait of Hormuz.
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