The Organisation of the Petroleum Exporting Countries (OPEC) has said Saudi Arabia, Russia and five other major oil producers will retain their September 2026 required production levels in October.

The decision was taken by the seven OPEC+ countries that had previously announced additional voluntary production adjustments in April and November 2023.

Representatives of the seven countries—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman—held a virtual meeting to assess developments in the global oil market and its outlook.

In a statement issued by OPEC, the participating countries agreed to maintain their September 2026 required production levels for October.

The combined output of the seven producers is about 31.01 million barrels per day, based on figures released by the oil producers’ group.

Saudi Arabia’s October production level was put at 10.49 million barrels per day, while Russia’s stood at 9.95 million barrels per day. Iraq was allocated 4.43 million barrels per day, while Kuwait’s production level was set at 2.68 million barrels per day.

Kazakhstan’s output was fixed at 1.63 million barrels per day, while Algeria and Oman were allocated 1.01 million barrels per day and 841,000 barrels per day, respectively.

OPEC said the seven countries also reaffirmed their collective commitment to achieving full conformity with the Declaration of Cooperation.

The organisation added that the countries would continue to meet monthly to assess market conditions and the outlook.

“The seven OPEC+ countries will continue to hold monthly meetings to review market conditions,” OPEC stated.

The next meeting of the seven countries is scheduled for October 4, 2026.

The decision to maintain the production levels follows a series of monthly increases that completed the gradual unwinding of earlier voluntary cuts.

Nigeria, an OPEC member, is not part of the seven-country mechanism. The country’s OPEC quota remains 1.5 million barrels per day.