OPEC+ Holds Output
Steady for October as Focus Shifts to 2027 Quotas

Vienna, 6 Sep 2026
(ONA) — OPEC+ kept its oil production policy unchanged for October 2026 at a
meeting today, as the group works towards agreeing on new quotas before
determining its next steps on output.

In August, the
alliance agreed to increase production for September following gradual hikes,
fully reversing a 1.65 million barrel‑per‑day supply cut agreed in 2023.
Despite the agreed increases, output remains well below target levels due to
the war.

The alliance
comprises OPEC and other producers, including Russia.

OPEC+ currently
has very limited ability to influence the actual oil market, said Jorge León of
Rystad Energy. “The group can adjust production targets on paper, but it
cannot guarantee that those barrels will be produced or actually reach the
market.”

“The focus is
now shifting away from monthly production adjustments towards a much more
important discussion about 2027,” he added.

OPEC+ continues to
apply another production cut, covering most of the 21‑member group, until the
end of 2026. Before deciding how to phase out the cuts and return production to
the market, the group must review members’ oil production capacity to determine
baselines for 2027 output, which will form the basis for setting quotas.

The group’s next
meeting is scheduled for 4 October 2026.

— Ends/Khalid