Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman have reaffirmed their commitment to supporting stability in global oil markets following a virtual meeting on October 4, 2026.

The seven OPEC+ countries, which previously announced additional voluntary production adjustments in April and November 2023, reviewed global market conditions and the outlook.

The group agreed to maintain September 2026 required production levels for November 2026, in line with the agreed production framework.

The countries also reiterated their collective commitment to achieving full conformity with the Declaration of Cooperation.

The seven producers will continue to meet monthly to assess market conditions, with their next meeting scheduled for November 1, 2026. -OGN/TradeArabia News Service