OPEC+
IEA: Azerbaijan Produced Oil Below OPEC+ Quota in September
In September, Azerbaijan's oil production was 440,000 barrels per day, 110,000 b/d below its OPEC+ quota, according to the IEA.
Azerbaijan's Daily Oil Production Averaged 448,000 Barrels in September
Azerbaijan's average daily oil production in September 2026 was 448,000 barrels, down 6,000 barrels from August and 103,000 barrels below its OPEC+ quota.
Novak: Strait of Hormuz Situation Keeps 6–7 Million Barrels Per Day Off the Market
Russian Deputy Prime Minister Alexander Novak said around 6–7 million barrels of oil per day are still not reaching the global market due to the situation around the Strait of Hormuz. According to him, this creates an imbalance between supply and demand and serious volatility.
EIA: Global Oil Production to Fall 4.7% in 2026, Rise 8.1% in 2027
The U.S. Energy Information Administration forecasts global crude oil production will drop to 75.40 million barrels per day in 2026 and rise to 81.50 million barrels per day in 2027.
OPEC+ Extends September Quotas into October
Seven OPEC+ countries have kept oil production levels for October unchanged from September, reaffirming their commitment to the deal.
Oil Prices Fall as Middle East Tensions Ease
Oil prices dropped more than 4-6% on signs of de-escalation in the Middle East, with Brent falling to $83.7 per barrel.
OPEC+ to Increase Oil Output by 188,000 bpd in September
Seven OPEC+ countries will raise oil production by 188,000 bpd in September, including a 62,000 bpd quota increase for Russia.