OPEC+ agree to keep oil output quota steady for December
RIYADH — The Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to keep their oil output level unchanged for the third consecutive month in December. Seven OPEC+ members — Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman — made the decision in an online meeting on Sunday, OPEC said in a statement. The meeting reviewed global market conditions and…
Riyadh, Saudi Arabia — The Organization of Petroleum Exporting Countries and its allies, known as OPEC+, have decided to maintain their oil output quota steady for December. Seven OPEC+ nations — Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman — reached this decision during an online meeting on Sunday, according to a statement released by OPEC.
The meeting assessed global market conditions and future outlook. The seven countries reaffirmed their collective commitment to adhere to the Declaration of Cooperation. OPEC+ countries affirmed that further policy adjustments are not anticipated until next year, as the group continues to face export disruptions stemming from the US-Iran conflict.
The seven participating countries have chosen to retain the September 2026 production requirements for December 2026, as stated in the statement. In September, OPEC+ nations agreed to keep the production levels for October 2026 at the levels set for September 2026. In August, the seven countries had agreed to raise oil production by 188,000 barrels per day (bpd) for September.
OPEC+ countries will continue to convene monthly meetings to evaluate market conditions. The next gathering is scheduled for November 29, 2026.
Written by urgent.news from Saudi Gazette's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- OPEC+ set to keep oil output targets steady, sources say brecorder.com
- OPEC+ set to keep December oil production targets unchanged amid US-Iran war disruptions hindustantimes.com
- OPEC+ keeps December oil output targets steady as Iran war continues to disrupt flows investing.com
- OPEC+ set to keep oil output targets steady, sources say channelnewsasia.com
