Iraq among seven OPEC+ producers that keep oil output unchanged for December

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Iraq among seven OPEC+ producers that keep oil output unchanged for December

1 November 2026

Iraq is one of the seven OPEC+ countries that met online and agreed to hold their oil output steady for December 2026. The group, which earlier announced additional voluntary adjustments, is made up of Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman. They decided to maintain September 2026 required production for December 2026, with the country by country numbers set out in a table attached to the statement. The seven also repeated their collective commitment to achieve full conformity with the Declaration of Cooperation, the pact that binds OPEC members and the non-OPEC producers who work with them. They said the monthly review meetings would continue, and fixed the next meeting for 29 November 2026. For Iraq, which is the second largest crude producer inside OPEC, the quota matters because oil revenue pays for most of the federal budget.

Countries in the group: seven OPEC+ countries Named first three: Saudi Arabia, Russia, Iraq Framework: Declaration of Cooperation Output held at: September 2026 required production Next meeting: 29 November 2026

Why it matters for exams: The durable facts are the seven OPEC+ countries named with Iraq, the Declaration of Cooperation as the framework of OPEC+, and Iraq as a founder member and the second largest crude producer in OPEC.

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1 November 2026 Source: OPEC

In plain words

OPEC+ OPEC and cooperating non-OPEC oil producers — OPEC members plus producers such as Russia, Kazakhstan and Oman who coordinate output with them.