OPEC+ keeps November oil production targets unchanged

Core members of OPEC+ have decided to maintain their current oil production levels through November. The group, which includes Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, announced this decision in a statement. Saudi Arabia leads the production targets with 10.478 million barrels per day, followed by Russia at 9.949 million barrels per day and Iraq at 4.431 million barrels per day.

The production levels are based on the targets set in September 2023 and will remain unchanged. This decision aims to stabilize the global oil market amid varying economic conditions. The announcement comes as the world closely monitors oil supply and demand dynamics.