Seven OPEC+ producers agreed on Sunday, September 6, to keep their required crude-oil production for October at September levels, pausing a six-month sequence of increases. Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman made the decision during a virtual meeting, according to an official OPEC statement.
The decision leaves their combined October requirement at about 31.01 million barrels a day before compensation for earlier excess production, according to the allocation table reported by TASS from OPEC data. Saudi Arabia retains the largest requirement among the seven at 10.478 million barrels a day, followed by Russia at 9.949 million and Iraq at 4.431 million.
The group raised September supply by roughly 188,000 barrels a day in its previous meeting. That step completed the phased restoration of 1.65 million barrels a day in voluntary cuts first announced in 2023, after six consecutive monthly increases, Reuters and The National reported. A separate layer of restrictions covering most members of the wider 21-country alliance remains scheduled through the end of 2026.
The pause comes while the war involving Iran continues to disrupt exports through the Strait of Hormuz. The National reported that the waterway, normally used for about 20 percent of global oil and liquefied natural-gas supply, has remained effectively closed, sharply reducing vessel traffic. Reuters said those disruptions have limited the producers' ability to influence physical supply, prices and market share through quota changes alone.
OPEC said the seven countries renewed their commitment to full compliance with the Declaration of Cooperation. Actual production has remained below agreed targets amid the conflict, while the alliance is also assessing members' sustainable capacity to establish the production baselines that will shape 2027 quotas. Holding October requirements steady gives ministers time to address those politically sensitive allocations without adding a new headline supply change.
The seven producers will continue reviewing market conditions every month and scheduled their next meeting for October 4. Until then, energy markets will weigh the unchanged requirements against disrupted trade flows, compliance levels and the remaining alliance-wide cuts, factors that can affect crude prices, transport costs and inflation well beyond oil-exporting economies.
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