OPEC+ Keeps Oil Output Unchanged for Second Month

OPEC+, a coalition of major oil-producing countries, has decided to maintain its current oil production levels for November. This marks the second consecutive month that output will remain unchanged, as per the Organization of the Petroleum Exporting Countries (OPEC). The decision was made at a virtual meeting held on Sunday among OPEC+ members, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman.

The seven participating countries had been gradually increasing oil production each month from April to September this year. However, they suspended further increases in October and have now chosen to maintain the same level of production for November as well. OPEC said that the decision was taken after reviewing global market conditions and the economic outlook.

OPEC+ will meet again on November 1 to assess market conditions and decide on their next steps. The required production levels for September 2026 will be maintained for November 2026, according to OPEC's statement.