OPEC+ Keeps October Oil Output Quota Unchanged

Key facts

• OPEC+ decided to keep its oil production targets unchanged for October at a virtual meeting on September 6, 2026.
• The decision was taken by seven OPEC+ members: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman.
• Russia's October quota remains at 9.949 million barrels per day, while Saudi Arabia's is 10.478 million barrels per day.
• Iraq's production level is set at 4.431 million barrels per day, Kuwait at 2.676 million, Kazakhstan at 1.628 million, Algeria at 1.007 million, and Oman at 841,000 barrels per day.
• The combined October quota for the seven countries, excluding compensation volumes, is 31.01 million barrels per day.
• The decision comes as the ongoing Iran war continues to disrupt oil exports through the Strait of Hormuz.
• In August, OPEC+ agreed to increase production for September, completing a phased rollback of a 1.65 million-barrel-per-day supply cut introduced in 2023.
• The next OPEC+ meeting is scheduled for October 4.