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🇸🇦 Saudi Arabia /Energy & Infrastructure

OPEC+ Agrees to Keep October Oil Output Quotas Unchanged

From Saudi Gazette · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Official statement Approved/passed
  • Seven OPEC+ countries agreed to keep their September 2026 production levels unchanged in October 2026.
  • The group had increased output by 188,000 barrels per day for September, continuing a phased rollback of a 1.65 million-barrel-per-day cut agreed in 2023.
  • The countries reaffirmed their cooperation pledge and will continue monthly meetings, with the next scheduled for October 4.

OPEC+ will keep its oil production quotas unchanged in October 2026, maintaining the levels set for September. The decision came at a virtual meeting of Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, which reviewed recent developments and the outlook for the oil market.

The seven countries agreed last month to raise production by 188,000 barrels per day in September. They had previously announced additional voluntary adjustments in April and November 2023.

The September increase completed a phased rollback of a 1.65 million-barrel-per-day supply cut first agreed in 2023. Despite that production increase, the group decided not to make a further adjustment for October.

The countries also reaffirmed their commitment to the Declaration of Cooperation. They will continue holding monthly meetings to monitor market developments, with the next meeting scheduled for October 4.

About this summary

Originally published by Saudi Gazette in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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