OPEC+: oil production targets unchanged for November
Seven countries will retain their September production requirements for November. Their next review is scheduled for 1 November.
Seven OPEC+ countries ended their video meeting on Sunday 4 October without a new change to oil production targets for November 2026. The decision is confirmed by OPEC’s official statement and an accessible Reuters report.
The decision
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman agreed to maintain for November the required production levels established for September 2026. They reiterated their commitment to full compliance with the Declaration of Cooperation.
The seven countries will continue to review market conditions at monthly meetings. Their next meeting is set for 1 November 2026.
Targets and actual supply
Reuters reports that production in Gulf countries remains below their quotas because of export disruptions linked to the US–Israeli war with Iran. Keeping targets unchanged does not, by itself, mean those quantities can reach the market without interruption.
In a separate meeting that day, the OPEC+ Joint Ministerial Monitoring Committee emphasised the importance of safeguarding maritime routes. It also expressed concern about attacks on energy infrastructure, noting that repairs are costly and take time. These are the committee’s assessments.
The next reviews
The committee reviewed July and August production data and will continue monitoring compliance with the agreed adjustments. Its own next meeting is scheduled for 29 November 2026, separately from the seven-country meeting.
English translation of the Greek edition · Read in Greek