OPEC+ keeps October oil output quota unchanged from September levels
Seven OPEC+ countries – Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman – have agreed to keep their required oil production levels for October 2026 unchanged from September, reaffirming their commitment to market stability and compliance with the group's production agreement amid rising uncertainty over global oil markets due to ongoing conflicts in West Asia.
OPEC+ nations have decided to maintain their October 2026 oil production quotas at the same levels as September, according to a statement from the group. The seven member countries – Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman – concluded their virtual meeting on Sunday, reaffirming their commitment to market stability and the production agreement despite ongoing tensions in West Asia.
The production levels for each country will remain as follows: Russia at 9,949 million barrels per day, Saudi Arabia at 10,478 million barrels per day, Iraq at 4,431 million barrels per day, Kuwait at 2,676 million barrels per day, Kazakhstan at 1,628 million barrels per day, Algeria at 1,007 million barrels per day, and Oman at 841,000 barrels per day.
Together, these countries will produce a total of 31,010 million barrels per day, excluding compensation volumes. The group reiterated their dedication to complying with the Declaration of Cooperation, which requires full adherence to the production arrangements. OPEC noted that the group will continue to hold monthly meetings to review market conditions and future outlooks, with the next gathering scheduled for October 4.
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