OPEC+ maintains oil production levels for December
Seven OPEC+ members, including Saudi Arabia and Russia, agreed to keep December 2026 oil output unchanged after a virtual meeting on November 1.
Key Takeaways
AIThe seven OPEC+ member states—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—that previously announced additional voluntary adjustments in April and November 2023, held a virtual meeting on November 1, 2026, to review oil market developments and future outlook.
According to an official statement, the seven participating countries decided to maintain the required production levels for December 2026, as set for September 2026, in accordance with the table below.
The seven countries reaffirmed their commitment to the Declaration of Cooperation and will continue to hold monthly meetings to monitor market developments. The next meeting is scheduled for November 29, 2026.
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