Saudi Arabia and 6 OPEC+ countries keep oil production policy unchanged
Saudi Arabia and six other OPEC+ countries agreed to keep oil production policy unchanged for October 2026, maintaining the required production level of September 2026. The seven countries had eliminated voluntary cuts of 2.2 million barrels per day by September 2025 and 1.65 million barrels per day by September 2026. Remaining production cuts of 2 million barrels per day, in effect since November 2022, are set to continue until the end of 2026, with the alliance focusing on setting the baseline for 2027 production levels.
Why it matters: This decision reflects the theme of oil market stability and OPEC+ production policy amid geopolitical tensions.