ASTANA – Eight leading OPEC+ countries, Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia, Saudi Arabia, and the United Arab Emirates, have agreed to raise oil production by 137,000 barrels per day compared to October levels, according to a statement released after the group’s meeting on Oct. 5.
According to OPEC data, Kazakhstan is set to increase its oil production by 7,000 barrels per day in November, bringing its new output quota to 1.563 million barrels per day.
OPEC noted that the decision reflects stable global economic prospects and strong market fundamentals, including low global inventories. The organization emphasized that member countries will continue to monitor market dynamics and may adjust or suspend production increases if conditions change. The next meeting is scheduled for Nov. 2.
