The OPEC+ alliance of oil-producing countries will keep its oil production unchanged in November for the second consecutive month, the Organization of the Petroleum Exporting Countries (OPEC) said on Sunday.
The decision was taken at a virtual meeting of OPEC+ members, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, to review global market conditions and the economic outlook.
“The seven participating countries decided to maintain September 2026 required production for November 2026,” OPEC said in a statement.
The seven countries had gradually increased oil production each month from April to September this year before suspending further increases in October.
OPEC said the seven countries will meet again on Nov. 1 to assess market conditions and decide on their next steps.