Seven OPEC+ countries (Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman) have agreed to keep their required crude oil production levels unchanged for November 2026, following a virtual meeting held on 4 October 2026 (OPEC+ press release, 04/10/2026).
The production targets remain set at 10.5 mb/d for Saudi Arabia, 9.9 mb/d for Russia, 4.4 mb/d for Iraq, 2.7 mb/d for Kuwait, 1.6 mb/d for Kazakhstan, 1 mb/d for Algeria and 0.8 mb/d for Oman.
In October 2026, the group had previously agreed to maintain the required production levels established for September 2026 (KEI, 08/09/2026).
After several years of production cuts, OPEC+ has been raising its output targets throughout much of 2026. However, the conflict in the Middle East has prevented much of the planned increase from materialising. Disruptions to exports through the Strait of Hormuz and constraints on Russian oil flows continue to keep OPEC+ output below target levels.