OPEC+ maintains November 2026 oil production quotas unchanged
Seven key members of the OPEC+ alliance have decided to keep their oil production quotas unchanged for November 2026. The countries involved, Russia, Saudi Arabia, Iraq, Kazakhstan, Kuwait, Oman, and Algeria, had previously committed to voluntary production cuts. According to OPEC, Russia's daily quota will remain at 9.949 million barrels, while Saudi Arabia's stays at 10.478 million barrels. Iraq, Kuwait, Kazakhstan, Algeria, and Oman will maintain quotas of 4.431 million, 2.676 million, 1.628 million, 1.007 million, and 841,000 barrels per day, respectively.
These figures are unchanged from the levels set for September and October 2026, indicating a period of stability in production policies. The group's next meeting is set for November 1, where further adjustments could be discussed. The decision reflects a cautious approach amid global oil market dynamics.