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OPEC+major oil producing countries decide to maintain produc
Vienna, October 4 (Xinhua) - The Organization of the Petroleum Exporting Countries (OPEC) issued a statement on the 4th stating that seven major OPEC+oil producing countries have decided to maintain their current crude oil production unchanged in November.
The statement said that representatives from Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman held an online meeting on the same day to assess the current situation and prospects of the global oil market. The meeting decided to maintain production unchanged in November, at the same level as September.
OPEC+is composed of OPEC member countries and non OPEC oil producing countries such as Russia. From April to September this year, major oil producing countries began to increase production month by month, and suspended production from October onwards.
According to media reports, although OPEC+has chosen to increase production targets for most of 2026, most of these plans have not been implemented due to the impact of the Middle East conflict. Due to the Middle East conflict, oil exports have been hindered, and the "OPEC+" oil producing countries in the Gulf region have maintained export volumes at 60% to 80% of normal levels in recent months.
(Editor in charge: Wei Min)
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