OPEC+ Confirms Oil Production Quotas for October in Decision Involving Iraq

The "OPEC+" alliance, comprising seven nations including Iraq, has decided to maintain oil production levels for October without change from September. This decision was issued in an official statement from the organization. Iraq's production quota for October 2026 will stand at 4.431 million barrels daily. Saudi Arabia's quota is 10.478 million barrels, and Russia's is 9.949 million barrels per day. The group includes Iraq, Russia, Saudi Arabia, Kuwait, Kazakhstan, Oman, and Algeria. The total quotas for these seven countries in October amounted to approximately 31.01 million barrels per day, excluding volumes for compensating prior production overruns. The nations affirmed full commitment to their cooperation agreement. Their next meeting is set for October 4 to track global oil market developments.