OPEC, allies maintain output hike pause in Nov, mark 2nd consecutive hold
This story was originally published at 07:56 IST on 5 October 2026
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MUMBAI – The seven member countries of the Organization of the Petroleum Exporting Countries and its allies decided Sunday to maintain the required production levels for November, keeping it unchanged from September. This marks the second consecutive pause in production hikes. In September, the group raised output by about 188,000 barrels per day, completing the phased unwinding of 1.65 million barrels a day in voluntary supply cuts agreed in 2023.
The seven countries, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, met virtually on Sunday to review global market conditions and outlook. The countries paused their crude oil production hikes in October after six consecutive months of increases.
The countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation. The seven-member countries of the organisation and their allies will meet again on Nov. 1.
The following table shows the required production by each of the seven member nations, in thousand barrels per day:
Country | Required production in November | Required production in October |
Algeria | 1,007 | 1,007 |
Iraq | 4,431 | 4,431 |
Kuwait | 2,676 | 2,676 |
Saudi Arabia | 10,478 | 10,478 |
Kazakhstan | 1,628 | 1,628 |
Oman | 841 | 841 |
Russia | 9,949 | 9,949 |
End
Reported by Shreya Shetty
Edited by Akul Nishant Akhoury
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