OPEC+ Halts Oil Production Hike Amid Global Market Review

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) have paused their recent oil production increases, keeping output levels unchanged for October after four consecutive monthly hikes.

The decision was made on Sunday, September 6, 2026, when seven core OPEC+ members, Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman, met virtually to review global oil market conditions and outlook.

OPEC+ began raising output in June as part of a phased plan to unwind production cuts introduced in 2023 to prevent excess crude supply in the global market.