OPEC+ decided to keep oil production steady in October, after several months of consecutive increases. The decision marks a pause in the production increase trajectory that the organization had been implementing.
The decision on October production was made during a conference held via digital means among the sector ministers of the member countries. Representatives from Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman participated in the meeting.
The virtual meeting allowed alliance members to discuss the production strategy without the need for an in-person gathering, in a format that has been frequently used by the organization.
