Seven alliance members agree to maintain September production levels through November; next meeting set for November 1 to review market developments and outlook

Riyadh | BETH

Seven members of the OPEC+ alliance have agreed to maintain in November 2026 the production levels required for September 2026, reflecting a continued cautious approach to managing supply and monitoring developments in the oil market.

The decision was made during a virtual meeting held on Sunday, October 4, involving Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman — the seven countries that had previously announced additional voluntary adjustments in April and November 2023.

The meeting reviewed recent developments in the oil market and its future outlook. The seven countries also reaffirmed their commitment to the Declaration of Cooperation and said they would continue holding monthly meetings to assess market conditions and production levels.

Their next meeting is scheduled for November 1, 2026.

In practical terms, the decision means OPEC+ has chosen to keep current supply levels unchanged for another month, as demand trends, prices and geopolitical developments remain central factors in producers’ calculations.