OPEC+ to keep oil output policy unchanged for October
OPEC+ has decided to maintain its current oil output policy for October as it navigates market disruptions caused by the ongoing war in Iran. The group is currently focused on setting production baselines for 2027 rather than immediate adjustments.
Why it matters
Global energy prices and supply chains remain sensitive to OPEC+ decisions and regional conflicts in the Middle East.
The meeting comes as the Iran war continues to disrupt oil exports through the Strait of Hormuz, limiting OPEC+’s influence over prices and market share.
Listen OPEC+ kept its oil output policy unchanged for October at a meeting on Sept 6, it said in a statement, as the producer group needs to agree new quotas before deciding its next output steps.
The meeting of seven core OPEC+ members – Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman – comes as the Iran war continues to disrupt oil exports through the Strait of Hormuz, limiting OPEC+’s influence over prices and market share.
In August, OPEC+ agreed its production boost for September, completing a phased rollback of a 1.65 million-barrel-per-day supply cut first agreed in 2023.
Also covering this story
2 other newsrooms covered this event. We read each version separately.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in