OPEC+ Seven Countries Maintain December Crude Oil Production Quotas Unchanged

OPEC+ has released an official statement confirming that the December crude oil production quotas will remain unchanged. At the monthly meeting held today, seven OPEC+ oil-producing countries—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—once again reaffirmed their commitment to maintaining stable market operations. These countries held a video conference to discuss the current state and future trends of the global crude oil market. Ultimately, the seven nations jointly decided to continue implementing the production quota standards set for December 2026, as agreed in September 2026. The seven countries also reiterated their determination to strictly adhere to the requirements of the “Declaration of Cooperation.” Going forward, these seven OPEC+ member states will continue to hold monthly meetings to assess market developments, with the next meeting scheduled for November 29, 2026.