OPEC+ Nations Including Kazakhstan Agree to Maintain November Oil Output

Kazakhstan and six other OPEC+ nations have agreed to keep their oil production levels steady for November 2026, following a virtual meeting on October 4. The participating countries, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, reviewed global oil market conditions and reaffirmed their commitment to maintaining market stability. They decided to uphold the production adjustments outlined in the September 2026 agreement, ensuring conformity with the Declaration of Cooperation.

The group emphasized their collective dedication to supporting oil market stability through coordinated efforts. Monthly meetings will continue to monitor market developments, with the next gathering scheduled for November 1, 2026. This decision comes amid reports that the International Energy Agency (IEA) has released around 325 million barrels of oil from strategic reserves.