OPEC+ Countries Maintain Oil Production Levels Despite Global Market Uncertainty

OPEC+ countries decided to maintain their required oil production levels for October at September's levels during a virtual meeting on Sunday, according to OPEC.

The seven participating countries, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, reviewed global market conditions and the outlook before making the decision.

Russia's quota for October will remain at 9,949 million barrels per day, while Saudi Arabia's will stay at 10,478 million barrels per day. The combined OPEC+ quota for October will be 31.01 million barrels per day.