Overview

• Russia, Saudi Arabia, Iraq, the UAE, Kazakhstan, Kuwait, Oman and Algeria approved a November adjustment of 137,000 barrels per day to their voluntary cut rollback.
• OPEC published country limits for November, including Russia at 9.532 million b/d and Saudi Arabia at 10.061 million b/d, with smaller incremental increases for the other six members.
• The group finished unwinding an earlier 2.2 million b/d voluntary cut in September and is now gradually rolling back a separate 1.65 million b/d tranche.
• OPEC said members retain full flexibility to pause or reverse the increases, and a multi‑country compensation schedule for prior overproduction through July 2026 curbs the effective output gain.
• The OPEC Secretariat rejected media reports of a faster, 500,000 b/d acceleration, and the eight countries will hold their next monthly review on November 2.