OPEC+ Countries Maintain Oil Quotas Through October
Seven OPEC+ countries have decided to maintain their oil production quotas from September into October. The decision was made during an online meeting of the organization's ministers, Report informs. The participating countries include Russia, Saudi Arabia, Algeria, Kuwait, Iraq, Kazakhstan, and Oman.
The leaders of the deal, Saudi Arabia and Russia, will continue to produce 10.478 million barrels per day (bpd) and 9.949 million bpd, respectively. Other countries have been allocated specific quotas as well: Iraq - 4.431 million bpd, Kuwait - 2.676 million bpd, Kazakhstan - 1.628 million bpd, Algeria - 1.007 million bpd, and Oman - 841,000 bpd.
The participants of the agreement reaffirmed their commitment to achieving its full implementation. The next meeting of OPEC+ ministers will take place on October 4.