OPEC+ Seven Keeps Oil Output Quotas Steady
The seven key OPEC+ countries decided to maintain their September oil production quotas into October, halting a series of monthly increases totaling 188,000 barrels per day since June. The decision reflects ongoing adherence to voluntary production cuts initiated in 2023.
Consensus
- The seven countries of OPEC+—Russia, Saudi Arabia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—decided to maintain their September 2026 oil production quotas into October 2026.
- The decision was made during an online meeting on September 6, 2026.
- The production quotas for Saudi Arabia and Russia remain at 10.478 million and 9.949 million barrels per day, respectively.
- The quotas for Iraq, Kuwait, Kazakhstan, Algeria, and Oman are set at 4.431 million, 2.676 million, 1.628 million, 1.007 million, and 841 thousand barrels per day, respectively.
- The group will continue holding monthly meetings to review market conditions.
- The next meeting of the seven countries is scheduled for October 4, 2026.
- The participants reaffirmed their commitment to full compliance with the OPEC+ cooperation agreement, including voluntary production adjustments.
Points of divergence
- The decision ended a series of monthly increases in the production ceiling by 188,000 barrels perday from June to September 2026. — kommersant
- The seven countries previously agreed to increase production starting in June 2026 by 188,000 b/d, and then again in September 2026 by another 188,000 b/d. — vedomosti
- The seven countries are those that adopted additional voluntary production adjustments in April and November 2023. — tg_government_rus
- Vice Prime Minister Alexander Novak stated that OPEC+ does not plan new production cuts, citing recovering global demand and a currently tight market. — vesti
Coverage (8 sources)
- Seven-member OPEC+ alliance kept September oil production volumes for October — Коммерсантъ
- Alexander Novak took part in the meeting of the seven-country OPEC+ group — Правительство России
- Seven OPEC+ members kept current oil production quotas for October — Ведомости
- Seven OPEC+ countries extend September oil production quotas to October — Коммерсантъ
- OPEC+ "Seven" did not change its oil production plan for October — Вести
- Seven "Sevens" OPEC+ will keep September production quotas in October — Интерфакс
- Seven 'Sevens' OPEC+ begins meeting to assess situation on global oil market — Интерфакс
- Seven of the Seven: OPEC+ will discuss market situation and agreement implementation — Интерфакс