rki.news | Source: Xinhua
VIENNA, Oct. 4: OPEC and its allies, known as OPEC+, will keep their oil production levels unchanged in November for a second consecutive month, following a virtual meeting on Sunday.
The decision was taken by seven participating countries, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, after reviewing global market conditions and the economic outlook.
According to an OPEC statement, the seven countries agreed to maintain their required September 2026 production levels for November.
The group had increased oil output each month from April through September before pausing further increases in October.
OPEC said the participating countries will meet again on Nov. 1 to review market conditions and make further decisions on production levels.
The decision reflects OPEC+ efforts to monitor global oil demand, supply conditions and broader economic developments affecting the international market.
OPEC+ Maintains Oil Output Levels For Second Month
