OPEC+ To Hold Oil Output Steady For Second Month
VIENNA, Oct 4 (NNN-Xinhua) -- The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, will keep their oil output level unchanged for the second consecutive month in November, OPEC said in a statement on Sunday, reported Xinhua.
The decision was made after a virtual meeting of OPEC+ member countries, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, to review global market conditions and the economic outlook.
“The seven participating countries decided to maintain September 2026 required production for November 2026,” the statement noted.
The seven OPEC+ countries had been raising oil output on a monthly basis from April to September this year.
In October, the seven countries paused their oil output increases.
OPEC said the seven countries will hold their next meeting on Nov 1 to review market conditions and make further decisions.
--NNN-XINHUA
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