বাংলাSeven OPEC+ countries have decided to keep their planned oil production levels unchanged in October despite growing uncertainty in the global oil market. The countries are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman.
At an online meeting on Sunday (September 6), the 7 OPEC+ countries reviewed current market conditions and future prospects before agreeing to maintain the production limits set for September.
The decision comes amid uncertainty in the global oil market caused by the ongoing conflict in West Asia. However, the seven countries are not currently planning to increase or decrease their production levels.
OPEC said the seven countries had announced additional voluntary production adjustments in April and November 2023. The current production levels were established as part of those decisions.
For October 2026, the daily production limits are 9.949 million barrels for Russia, 10.478 million barrels for Saudi Arabia, 4.431 million barrels for Iraq, 2.676 million barrels for Kuwait, 1.628 million barrels for Kazakhstan, 1.007 million barrels for Algeria and 841,000 barrels for Oman.
According to OPEC, excluding compensation adjustments, the group’s combined production limit for October will stand at 31.010 million barrels per day. The 7 OPEC+ countries have also reaffirmed their commitment to comply with production agreements under the broader OPEC+ cooperation framework.
The latest decision means the current production structure of the 7 OPEC+ countries will remain unchanged for another month. However, the countries may take further action if there are major developments in the global oil market.
The countries plan to continue monitoring market conditions through monthly meetings. Their next meeting is scheduled for October 4, when they will again review the global oil market and current production levels.
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