Russia and six other producers hold December oil output at the September level

1 November 2026

Seven oil producers that take part in the OPEC+ cooperation met online and agreed to leave their output targets alone for December. The seven are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman. Their required production for December 2026 stays at the level fixed for September 2026, so no fresh increase or cut was announced. Russia is the largest producer in this group that is not a member of OPEC itself; it works with OPEC through the wider OPEC+ arrangement. The group said it would meet again on 29 November 2026. Because Russia's budget leans heavily on oil and gas receipts, these joint output calls matter for its revenue.