Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability

AI Summary

Seven OPEC+ countries, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, reaffirmed their commitment to market stability by maintaining production levels for October 2026. The decision follows earlier voluntary production adjustments aimed at managing global oil supply.

The seven OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 6 September 2026, to review global market conditions and outlook. The seven participating countries decided to maintain September 2026 required production for October 2026 as detailed in ...