Oil Exporters Agree to Steady Production Amid Iran Conflict

Major oil-exporting countries agreed to maintain production levels in November amidst rising tensions due to the ongoing Iran war. The decision was made by seven major oil exporters at a meeting on Sunday, October 4, 2026.

The price of benchmark Brent crude oil has surged above $100 per barrel as a result of the conflict in Iran. To keep production steady, the countries agreed not to cut output, which could exacerbate the already tense global energy market situation.