OPEC+ keeps Kazakhstan’s October oil target unchanged
Seven OPEC+ countries have agreed to keep their September oil production targets unchanged for October 2026, reports a Qazinform News Agency correspondent.
According to OPEC+ press release, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman made the decision during a virtual meeting on September 6 after reviewing global oil market conditions and the outlook.
Under the agreement, Kazakhstan’s required production will remain at 1.628 million barrels per day. Saudi Arabia’s target stands at 10.478 million bpd, Russia’s at 9.949 million bpd and Iraq’s at 4.431 million bpd.
The decision follows an OPEC+ production increase of around 188,000 bpd for September, completing the rollback of voluntary cuts introduced in 2023.
The meeting also comes amid continuing disruptions to global oil exports, including those linked to the conflict involving Iran and the Strait of Hormuz.
The seven countries “reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation.”
Their next meeting is scheduled for October 4.
Earlier, Qazinform News Agency reported that prospects for exploration and appraisal drilling, the readiness of the domestic oilfield services market and the development of Kazakhstan’s drilling industry were discussed at the KAZDRILLING conference in Atyrau.
