OPEC+ keeps oil output targets unchanged for October
OPEC+ has decided to maintain current oil production targets for October 2026, citing ongoing conflicts in West Asia and shipping disruptions. Major producers like Saudi Arabia and Russia will continue their voluntary supply adjustments to stabilize market conditions.
Why it matters
Global energy prices are heavily influenced by OPEC+ decisions, making this critical for the global economy and inflation outlook.
OPEC+ on Sunday decided to keep its oil production targets unchanged for October, as the group assesses the impact of ongoing conflicts in West Asia and disruptions to oil exports through the Strait of Hormuz.Seven OPEC+ members, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, took the decision at a virtual meeting on September 6. The countries had earlier announced additional voluntary production adjustments in April and November 2023."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 6 September 2026 to review global market conditions and outlook," OPEC said."The seven participating countries decided to maintain September 2026 required production for October 2026," it added.Under the October production schedule, Russia's quota will remain at 9.949 million barrels per day, while Saudi Arabia's will be 10.478 million barrels per day.Iraq's production level…
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OPEC+ set to keep oil output policy unchanged on Sunday, sources say
OPEC+ to keep oil output policy unchanged for October
OPEC+ set to keep oil output policy unchanged on Sunday, sources say
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