OPEC Maintains Oil Production Quota for October

OPEC has announced that it will maintain its oil production quota for October 2026 at the same level as September. The decision was made after a virtual meeting of seven OPEC+ countries, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman.

The participating countries reaffirmed their commitment to market stability and agreed to maintain their production levels for October 2026. This means that Saudi Arabia will produce 10.478 million barrels per day, while Russia will produce 9.949 million barrels per day, among others.

OPEC+ countries will continue to hold monthly meetings to review market conditions, with the next meeting scheduled for October 4, 2026.