By John Lee.
Seven OPEC+ member countries have agreed to maintain their September 2026 production levels for December 2026.
The group met virtually on Saturday to review global market conditions, with Iraq's Oil Minister, Bassem Mohammed al-Abadi, in attendance.
Full statement from OPEC:
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability
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 1 November 2026, to review global market conditions and outlook.
The seven participating countries decided to maintain September 2026 required production for December 2026 as detailed in the table below.
The seven countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation.
The seven OPEC+ countries will continue to hold monthly meetings to review market conditions. The next meeting will be held on 29 November 2026.
(Sources: OPEC / Ministry of Oil)
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