# OPEC+ holds November output unchanged as seven countries agree to meet again on 1 November > Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman decided on 4 October to keep September's required production for November. The IEA says OPEC+ output was 33.11 million barrels a day in August. - Canonical URL: https://forextradingcommunity.com/news/opec-plus-keeps-november-2026-output-unchanged/ - Type: Markets - Published: 2026-10-06 - Updated: 2026-10-06 - Publisher: Forex Trading Community (https://forextradingcommunity.com), FTC Editorial Team - Currencies: USD, CAD, NOK Seven OPEC+ countries met virtually on Sunday 4 October 2026 and decided to maintain September 2026 required production for November 2026, OPEC announced. The seven are Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, the group that announced additional voluntary adjustments in April and November 2023. In its statement they reiterated their collective commitment to full conformity with the Declaration of Cooperation, and said they will keep meeting monthly to review market conditions. The next meeting is on 1 November 2026. ## What the decision means The decision leaves quotas where they are: no increase and no cut for November. The statement carries the required-production table for each country, which is the part that sets the numbers; the headline is that the pause continues. The quota is only part of the story this year. The International Energy Agency's September report put OPEC+ crude output at 33.11 million barrels a day in August, and described a market in which supply has been cut sharply by the conflict in the Middle East, with world demand forecast to fall by 2.5 million barrels a day in 2026 ([report](/news/iea-oil-market-report-september-2026/)). When producers are already pumping less than they are allowed to, a decision to hold quotas changes little at the margin. What matters for prices is how much oil actually reaches the market. ## Prices and currencies Brent has traded above $100 a barrel for much of September ([report](/news/brent-crude-above-100-september-2026/)), and energy is the main reason inflation is rising in many economies: euro area inflation reached 3.8% in September ([report](/news/euro-area-inflation-september-2026-flash-estimate/)) and the Federal Reserve is raising rates against 3.4% PCE inflation ([report](/news/us-pce-inflation-august-2026/)). Oil-linked currencies, the Canadian dollar and the Norwegian krone, respond most directly: see [oil prices and the Canadian dollar](/news/oil-prices-and-the-canadian-dollar/) and [oil and inflation](/news/oil-and-inflation/). OPEC+ meets again on 1 November, the weekend after the Fed, ECB and Bank of Japan decisions. [How to trade oil](/news/how-to-trade-oil-wti-brent/) covers the instruments. Live prices: [Brent crude](/markets/brent-crude-oil/). ## Sources - [OPEC: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability, 4 October 2026](https://www.opec.org/pr-detail/1891616-4-october-2026.html) - [International Energy Agency: Oil Market Report, September 2026](https://www.iea.org/reports/oil-market-report-september-2026) ## Common questions ### What did OPEC+ decide on 4 October 2026? Seven participating countries decided to maintain September 2026 required production for November 2026, which means no change in their quotas for the month. ### Which countries took part in the OPEC+ meeting? Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, the seven countries that announced additional voluntary adjustments in April and November 2023. ### When is the next OPEC+ meeting? The seven countries meet again on 1 November 2026 and continue to hold monthly meetings. --- This article is for information only and is not financial advice. Trading forex and CFDs carries a high risk of losing money.