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Live Updates  >  Live Update Details

2026-11-01 20:38:25

OPEC+ issued an official statement confirming that it will maintain its December crude oil production quotas unchanged. At its monthly meeting today, the seven OPEC+ oil-producing countries—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—reaffirmed their commitment to maintaining stable market operations. These countries discussed the current situation and future trends of the global crude oil market via video conference, ultimately deciding to continue implementing the December 2026 production quota standards finalized in September 2026. The seven countries also reiterated their commitment to strictly adhere to the requirements of the Declaration of Cooperation. These seven OPEC+ members will continue to hold monthly meetings to assess market dynamics; the next meeting is scheduled for November 29, 2026.

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