OPEC+ set to keep oil output policy unchanged on Sunday, sources say
The group is holding off on new quota changes while members review production capacity and prepare baselines for 2027 output decisions.
- On Sun, Sep 6, OPEC is set to keep oil output policy unchanged for October, as two people familiar with the discussions told Reuters the group needs to agree on new quotas.
- Before the group decides how to unwind production cuts and return output to the market, the 21-country Organization must review members' oil production capacity to set 2027 output baselines.
- Another layer of production cuts remains in place, covering most members of the 21-country group until the end of 2026. These cuts form the basis for upcoming quota decisions.
- Despite agreed increases including a phased rollback of a 1.65 million-barrel-per-day supply cut, the Organization of the Petroleum Exporting Countries and Russia produce far below targets because of the war.
- Unlike in the past, supply decisions have limited market impact as ongoing conflict involving Iran continues to disrupt oil exports through the Strait of Hormuz. This constrains OPEC's influence over prices.
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OPEC+ Keeps October Oil Output Quota Unchanged from September Levels
Get latest articles and stories on World at LatestLY. Seven OPEC+ countries – Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman – have agreed to keep their required oil production levels for October 2026 unchanged from September, reaffirming their commitment to market stability and compliance with the group's production agreement amid rising uncertainty over global oil markets due to ongoing conflicts in West Asia. World News | OP…
OPEC+ keeps October oil output quota unchanged from September levels - The Tribune
Seven OPEC+ countries – Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman – have agreed to keep their required oil production levels for October 2026 unchanged from September, reaffirming their commitment to market stability and compliance with the group's production agreement amid rising uncertainty over global oil markets due to ongoing conflicts in West Asia.
Reformatorisch Dagblad
welingelichtekringen.nlThe OPEC+ oil cartel will not further raise its production targets next month. A core group of seven members, including Saudi Arabia and Russia, announced on Sunday following an online meeting that the current quotas will be maintained.
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