OPEC+ Keeps October Oil Output Policy Unchanged

On 6th September 2026, seven core OPEC+ countries decided to keep their October oil production policy unchanged amid global market uncertainty.

Key Points

Seven Core Members: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman participated in the virtual meeting.
September Increase: OPEC+ increased production by around 188,000 barrels per day for September.
Production Cuts: The September increase completed the rollback of a voluntary 1.65 million barrels per day cut introduced in 2023.
Supply Disruptions: Conflict involving Iran and disruptions around the Strait of Hormuz continue affecting oil exports.
Market Impact: Supply disruptions have limited the effect of OPEC+ production decisions on global oil supplies and prices.
UAE Exit: The United Arab Emirates left OPEC+ in May 2026, citing national interests and market requirements.