OPEC+ Countries Extend Oil Production Quotas into October

Seven OPEC+ countries have decided to maintain their September oil production quotas into October. The decision was made during a monthly online meeting of the organization's leaders. The countries involved are Russia, Saudi Arabia, Algeria, Kuwait, Iraq, Kazakhstan, and Oman.

The quota for Saudi Arabia has been maintained at 10.478 million barrels per day (bpd), while Russia will produce 9.949 million bpd. Other participating countries' quotas include Iraq's 4.431 million bpd, Kuwait's 2.676 million bpd, Kazakhstan's 1.628 million bpd, Algeria's 1.007 million bpd, and Oman's 841,000 bpd.

The participants of the agreement confirmed their commitment to achieving its full implementation. The next meeting of the 'seven' is scheduled for October 4.