The seven OPEC+ nations, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, have agreed keep oil production quotas in December at the previous month’s level, OPEC said.
– “The seven OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 1 November 2026, to review global market conditions and outlook,” it said. “The seven participating countries decided to maintain September 2026 required production for December 2026.”
– As follows from the OPEC table, Russia’s quota in December 2026 will stand at 9.949 mln barrels a day, Saudi Arabia’s at 10.478 mln barrels a day, Iraq’s – at 4.431 mln barrels a day, Kuwait’s – at 2.676 mln barrels a day, Kazakhstan’s – at 1.628 mln barrels a day, Algeria’s – at 1.007 mln barrels a day, and Oman’s – at 841,000 barrels a day.
– “The seven countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation,” OPEC said. “The seven OPEC+ countries will continue to hold monthly meetings to review market conditions. The next meeting will be held on 29 November 2026.”.
https://tass.com/economy/2211539