OPEC+ decides to keep output steady in October

Seven members of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) have agreed to pause oil output hike in October, after increasing it by 188,000 b/d this month.

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Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman have decided to keep production steady after months of output hikes to unwind the 1.65 million b/d in voluntary production cuts announced in April 2023.

In November 2025, the members decided to pause production hikes in the first quarter of this year, citing steady market conditions.

This temporary freeze was followed by consecutive output increases in recent months, as the group sought to recapture market share.

The decision to increase output came amid the ongoing Middle East conflict, which has led to repeated strikes on energy infrastructure across the region.

“The seven countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation,” the Saudi Arabia-led group said.

The group’s two leading producers, Saudi Arabia and Russia, are set to produce about 10.5 million b/d and 9.9 million b/d of crude oil in October, respectively.

Iraq is expected to produce about 4.4 million b/d next month.

The seven OPEC+ members will next meet on 4 October 2026 “to review market conditions.”

By Aparupa Mazumder

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