OPEC+ Countries Maintain December Oil Production Levels
Seven OPEC+ countries, including Kazakhstan, have agreed to maintain oil production in December 2026 at the levels established for September, according to a statement published by the organization.
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman held an online meeting on Nov. 1 to assess developments in the global oil market and its outlook.
The seven countries had previously announced additional voluntary production adjustments in April and November 2023. Following the meeting, participants agreed to maintain their September 2026 production levels throughout December, in accordance with the production schedule published in the organization's statement.
The participating countries also reaffirmed their commitment to full compliance with the provisions of the Declaration of Cooperation, which serves as the framework for coordination among OPEC+ members.
Photo credit: ixbroker.com
