Opec+ Keeps Crude Output Targets Steady Through November
Opec+, an alliance of oil-producing countries, has decided to maintain its crude output goals for November at the same level as September.
This decision was made during a meeting on Sunday, where the seven principal participants - Saudi Arabia, Iraq, Kuwait, Oman, Algeria, Russia, and Kazakhstan - agreed to preserve the necessary output level for November 2026.
The alliance had previously concluded the process of reversing 1.65 million barrels per day of voluntary reductions from 2023, and an additional two million bpd of cutbacks settled in 2022 will remain in effect through year-end.
The Opec+ nations also announced that they would continue to convene monthly sessions to assess market circumstances, with the next gathering scheduled for November 1.