OPEC+ keeps oil production quotas unchanged for December
Seven OPEC+ countries, including Kazakhstan, met virtually on 1 November 2026 to review global market conditions and outlook, Qazinform News Agency reports, citing opec.org.
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, which previously announced additional voluntary adjustments in April and November 2023, decided to maintain the September 2026 required production for December 2026 as detailed in the table below.
The seven countries reiterated their collective commitment to fully comply with the Declaration of Cooperation.
The participating countries will continue to hold monthly meetings to review market conditions. The next meeting is scheduled for 29 November 2026.
Earlier, it was reported that Singapore plans to store Saudi crude oil in underground caverns on Jurong Island starting in the second half of 2027, as the city-state seeks to strengthen its energy security following disruptions to Middle Eastern oil supplies.
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