Overview
- OPEC+'s seven-member committee led by Saudi Arabia and Russia decided on Sunday to keep October production quotas the same as September.
- The group published country-level quotas that set an aggregate OPEC+ allowance for October at 31.01 million barrels per day.
- Market participants treated the decision as largely procedural and already priced in, shifting attention to the upcoming capacity review.
- Ongoing conflict involving Iran and disruptions in the Strait of Hormuz have reduced exports so actual output remains below official quotas.
- OPEC+ will continue monthly reviews, the next seven-member meeting is scheduled for October 4, and an audit due later in 2026 will shape 2027 baselines and the fate of cuts running through year-end.