OPEC said seven countries that had announced additional voluntary adjustments in April and November 2023 met virtually on 4 October 2026 to review market conditions and the outlook. The participants were Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman. Their decision was to keep the required production levels for November at the levels that had applied in September. The statement does not describe this as a new increase or a cut. It is a continuation of the existing requirements for another month, and that distinction matters when a short communiqué is read alongside headlines about supply.

The decision followed the group’s 6 September meeting, when the same seven countries said they would maintain September’s required levels for October. The October statement therefore extends that month-to-month policy sequence into November. It does not publish in its text a new numerical quota table, a revised production baseline, or country-by-country realised output. The word “required” refers to the arrangement agreed by the participating governments; it should not be treated as a measurement of how much each country actually produced, exported, or delivered to customers during September or October. Those are separate data questions that require production and shipping statistics.

The seven governments reiterated their commitment to full conformity with the Declaration of Cooperation, the framework they use with other OPEC and non-OPEC participants. They also said monthly meetings would continue, with the next meeting scheduled for 1 November 2026. That date is a planned review, not a decision already taken for December. The statement offers no numerical forecast for prices, demand, inventories or global supply, and it does not explain how each delegation assessed market conditions. Readers should therefore distinguish the concrete administrative outcome—unchanged required levels for November—from broader claims about the market that the release does not make.

A policy requirement and a physical flow are different measures; the statement gives no country output series or shipment totals for either month.