OPEC+ Producers Lock in Unchanged Oil Quotas Through October

Oil producers from seven OPEC+ countries have agreed to keep their production levels for October unchanged from September. The decision was made during a virtual meeting on Sunday, reaffirming their commitment to market stability and compliance with the group's production agreement.

The countries reviewed global oil market conditions and outlook before making the decision. Russia's quota for October will remain at 9,949 million barrels per day, while Saudi Arabia's will be 10,478 million barrels per day.

Iraq's production level has been set at 4,431 million barrels per day, Kuwait's at 2,676 million barrels per day, Kazakhstan's at 1,628 million barrels per day, Algeria's at 1,007 million barrels per day and Oman's at 841,000 barrels per day.

The combined OPEC+ quota for October, excluding compensation volumes, will stand at 31.01 million barrels per day.