Ministers of seven OPEC+ countries (Russia, Saudi Arabia, Algeria, Kuwait, Iraq, Kazakhstan, and Oman) have decided to extend the September oil production quotas into October, following their regular monthly online meeting, according to an OPEC press release.
The maximum oil production levels for the deal's leaders—Saudi Arabia and Russia—remain at 10.478 million barrels per day (bpd) and 9.949 million bpd, respectively. Iraq is allowed to produce 4.431 million bpd, Kuwait 2.676 million bpd, Kazakhstan 1.628 million bpd, Algeria 1.007 million bpd, and Oman 841,000 bpd.
The participants reaffirmed their commitment to achieving full compliance with the agreement, the OPEC statement emphasized.
The next meeting of the OPEC+ group of seven is scheduled for October 4. The OPEC+ ministerial committee will also convene on the same day.