# Seven OPEC+ producers hold November quotas as supply risks persist Author: Hatice Ertaş Language: English Published: 2026-10-05T09:23:05+03:00 Updated: 2026-10-05T09:23:05+03:00 ![Red control valve and steel pipelines at an oil terminal with a tanker in the background](https://kriptometa.com/uploads/opec-kasimda-da-kotayi-korudu-yedi-ulkede-artis-yok-49ac290813cf_article.webp) ## Key takeaways - Seven OPEC+ countries left November quotas unchanged at their October 4 meeting. - The official targets total 31.01 million barrels a day; they are not a measure of actual output. - The seven-country group will meet again on November 1. An output target does not guarantee that oil will reach buyers. OPEC+ left quotas unchanged while its monitoring committee highlighted shipping routes and damaged energy facilities. Seven OPEC+ countries decided against raising their oil production quotas for November at a virtual meeting on October 4, 2026. Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman will retain the levels set for September. The decision is not a new production cut applying to the entire alliance. The [official OPEC statement](https://www.opec.org/pr-detail/616-4-october-2026.html) says participants reviewed market conditions and renewed their commitment to full compliance with their cooperation agreement. At their [September 6 meeting](https://www.opec.org/pr-detail/613-6-september-2026.html), the same seven countries had also kept October targets at September levels. The latest decision extends those targets for another month without announcing a new timetable for increases. [OPEC’s official announcement on October 4, 2026](https://x.com/OPECSecretariat/status/2106705293157564564) ## Seven-country quotas total 31.01 million barrels a day Saudi Arabia has the largest target in the [country table attached to the decision](https://www.opec.org/assets/imagedb/pic/1791111910.png), at 10.478 million barrels a day, followed by Russia at 9.949 million. Adding all seven entries gives 31.01 million barrels a day. That total is calculated from OPEC’s figures, which are expressed in thousands of barrels per day. November 2026 production targets — OPEC | Country | November target (thousand barrels/day) | |---|---| | Saudi Arabia | 10,478 | | Russia | 9,949 | | Iraq | 4,431 | | Kuwait | 2,676 | | Kazakhstan | 1,628 | | Algeria | 1,007 | | Oman | 841 | **A quota is not a shipment.** The table contains production targets for November, not measurements of oil actually produced or exported. The condition of energy facilities and the availability of transport routes separately determine whether planned supply can reach the market. ## Shipping routes and damaged facilities remain in focus At a separate meeting on the same day, the [Joint Ministerial Monitoring Committee (JMMC)](https://www.opec.org/pr-detail/617-4-october-2026.html) emphasized the importance of protecting international maritime routes to keep energy flowing. The panel expressed concern over attacks on energy infrastructure, saying that restoring damaged facilities to full capacity is costly and time-consuming. According to the committee, attacks on infrastructure and disruption of sea routes affect supply availability and increase [market volatility](https://kriptometa.com/en/glossary/volatility). Unchanged quotas therefore do not mean that physical supply problems have been resolved. The statement did not provide a date by which all damaged assets would return to normal. The JMMC also reviewed production data for July and August. Its monitoring calendar is separate from the seven-country group’s monthly policy meeting: the producers will meet on November 1, while the next regular JMMC meeting is scheduled for November 29. The committee retains the ability to convene additional meetings or request a ministerial meeting if conditions warrant. ## A different measure from the G7 reserve release Another concrete step in the oil market is the [G7 reserve release plan](https://kriptometa.com/en/g7-100-million-barrel-reserve-release-diesel-20-days) announced on October 2. The [leaders’ joint statement](https://www.consilium.europa.eu/en/press/press-releases/2026/10/02/g7-leaders-statement-on-global-energy-security-and-market-stability/) calls for a 100-million-barrel release over four months, with a substantial diesel portion brought forward into the first 20 days. The OPEC+ decision concerns production targets; the G7 plan concerns releasing existing stocks. The figures should not be read on the same basis. OPEC+ lists daily targets, whereas the G7’s 100 million barrels is a multi-month total. The pace of stock releases and continuity of shipments remain separate factors to watch when assessing energy supply, even with November quotas unchanged.