OPEC+ keeps November oil output unchanged for a second month
In short
Seven OPEC+ producers decided on October 4 to hold November crude output at October levels, OPEC said in a statement relayed by Jiemian, meaning output stays unchanged for a second consecutive month. Representatives of Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman met online and said they would keep reviewing output policy monthly, with the next meeting set for November 1. CLS and Yicai had earlier reported an agreement in principle to leave the November target unchanged.
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OPEC+ decided to keep its November crude oil output unchanged, at the same level as October, according to an OPEC statement reported by Jiemian. The decision was first signalled earlier in the day by CLS, which cited OPEC+ representatives saying the group had reached an agreement in principle to keep the November oil production target unchanged, and by Yicai, which reported the same agreement in principle. Yicai later reported that OPEC+ had decided to keep the November output quota unchanged. [ 2 , 3 , 4 , 5 ]
Jiemian, citing CCTV News, said the decision was taken by seven main OPEC+ producers: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman. Their representatives held an online meeting on October 4 to assess the current situation and outlook of the global oil market. The participants reaffirmed that they would continue to observe the output arrangements under the OPEC+ cooperation framework and would assess output policy monthly in light of international oil market conditions. Their next meeting is set for November 1. [ 5 ]
According to Jiemian, the move means the relevant output level will remain unchanged for a second consecutive month. It reported that OPEC+ comprises OPEC member states plus non-OPEC producers such as Russia; in March 2025 the seven countries, together with the UAE, decided to gradually raise crude output from April 1 that year, and the eight countries kept increasing production each month until December. They paused the increases from January to March 2026 because of seasonal factors, then announced they would resume increasing output from April. On May 1, the UAE formally left OPEC and OPEC+. [ 5 ]
The earlier flashes from CLS and Yicai described the outcome in one line each and did not name the participating countries or give the output level; Jiemian's account, attributing the details to the OPEC statement via CCTV News, was the only document to specify them. [ 2 , 3 , 4 , 5 ]
Why it matters
The decision leaves OPEC+ supply at the same level for a second month, so the group is not adding or removing barrels in the near term. The stated monthly review of output policy and the November 1 meeting mean supply plans remain open to change. Every document covering the event is from a financial or business outlet, which frames it as a market-relevant production decision rather than a domestic political story.
Key facts
- OPEC+ representatives said the group reached an agreement in principle to keep the November oil production target unchanged [ 2 , 3 ]
- Yicai later reported that OPEC+ decided to keep the November output quota unchanged [ 4 ]
- OPEC said seven OPEC+ producers — Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman — decided to keep November crude output unchanged, at the same level as October [ 5 ]
- The decision means the output level stays unchanged for a second consecutive month [ 5 ]
- The seven countries' representatives held an online meeting on October 4 to assess the current state and outlook of the global oil market [ 5 ]
- The participants said they would continue to observe OPEC+ output arrangements and assess output policy monthly based on international oil market conditions [ 5 ]
- The next meeting of the seven countries is scheduled for November 1 [ 5 ]
- The UAE formally left OPEC and OPEC+ on May 1 [ 5 ]
Confirmed by several sources
Still unclear
- The exact November production level in barrels per day No document gives a volume figure; all four describe the decision only as unchanged from October.
- Which countries took part and how the decision was described CLS and Yicai reported the decision in short items without naming participants, quotas or volumes; only Jiemian, citing CCTV News, gave the list of seven countries and the OPEC statement details.
- The location of the meeting Jiemian says representatives held an online meeting, so no host city is reported.
What local media are saying
Timeline, local time
- CLS reports that OPEC+ representatives say the group has reached an agreement in principle to keep the November oil production target unchanged [ 2 ]
- Yicai reports OPEC+ has agreed in principle to maintain the November oil production target [ 3 ]
- Yicai reports OPEC+ has decided to keep the November oil production quota unchanged [ 4 ]
- Jiemian reports, citing an OPEC statement, that seven OPEC+ producers decided to keep November crude output unchanged from October, after an online meeting the same day [ 5 ]