OPEC+ Stands Pat on Oil Production as Strait of Hormuz Disruptions Persist

OPEC+, the seven-country core group, decided to hold oil production at September's required levels for October. The decision was made after a video meeting on Sunday, 6 September 2026. Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman confirmed the decision to maintain output flat for October.

This is the first month since April that OPEC+ did not add barrels on paper. From June through September, the group had been unwinding a 1.65 million barrel-per-day voluntary cut agreed in 2023. August's decision added about 188,000 barrels a day to September's output.

The Strait of Hormuz disruptions have already kept actual exports well below those targets. U.S. strikes on Iranian sites near the strait resumed last week, with Washington saying it destroyed three Iranian oil tankers after Iranian forces fired at U.S. ships in the Gulf region.

Required levels for October include 10.478 million barrels per day for Saudi Arabia and 9.949 million b/d for Russia. The group's next review is scheduled for 4 October 2026.