OPEC+ Maintains November Oil Production Quotas Amid Elevated Prices

The OPEC+ alliance has decided to maintain its oil production quotas unchanged for November. This decision comes as Brent crude remains above $100 a barrel.

The seven countries involved in the agreement, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, reaffirmed their commitment to market stability and continued cooperation through the Declaration of Cooperation.

OPEC+ had previously announced additional voluntary production adjustments in April and November 2023. The next meeting is scheduled for Nov. 1, 2026.