Seven OPEC+ producers keep November oil output targets at September levels

International Energy Economy & Banking

Seven OPEC+ producers keep November oil output targets at September levels

5 October 2026

Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman met online on 4 October 2026 and agreed to maintain September 2026 required production for November 2026.
It is the second month in a row that the seven have left their targets unchanged, pausing the gradual increases they had made over the previous six months.
Their combined output target stays at about 31 million barrels per day.
The seven will meet again on 1 November 2026, keeping to their practice of reviewing market conditions every month.
These seven are the subset of OPEC+ that had been making voluntary production adjustments on top of the group's wider targets.

Meeting date: 4 October 2026 November output target: 31 million barrels per day Countries taking part: Seven Next meeting: 1 November 2026

Why it matters for exams: OPEC+ output decisions move crude prices and feed directly into India's import bill, so the dates, the countries and the figures are standard current-affairs material.

Kerala PSCUPSCSSCBank

5 October 2026 Source: The National

In plain words

OPEC+ Organization of the Petroleum Exporting Countries and partner producers — A grouping of OPEC's members together with non-OPEC oil producers such as Russia and Kazakhstan that set output levels jointly.

bpd barrels per day — The standard unit for crude oil production, one barrel being about 159 litres.