# OPEC+ meets on 1 November after holding November output steady on 4 October

> Seven OPEC+ countries meet again on 1 November. On 4 October they kept required production for November unchanged, and the IEA's October report puts 2026 demand 2.6 million barrels a day lower.

- Canonical URL: https://forextradingcommunity.com/news/opec-plus-november-1-2026-preview/
- Type: Markets
- Published: 2026-10-31
- Updated: 2026-10-31
- Publisher: Forex Trading Community (https://forextradingcommunity.com), FTC Editorial Team
- Currencies: USD, CAD, NOK

The seven OPEC+ countries that announced voluntary adjustments in 2023 (Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman) meet again on 1 November 2026, according to the group's statement. On 4 October they decided to keep September's required production for November unchanged ([October decision](/news/opec-plus-keeps-november-2026-output-unchanged/)).

## The backdrop

The IEA's October report forecasts 2026 global oil demand to fall by 2.6 million barrels a day, and says a partial recovery in 2027 will still leave demand below 2025 ([IEA report](/news/iea-oil-market-report-october-2026/)). Brent traded above $100 for much of September ([report](/news/brent-crude-above-100-september-2026/)).

## What to watch

The meeting will set the group's decision for December. A decision to hold again would extend the pause; a change would be a clearer signal for prices. The group has said it will keep meeting monthly to review market conditions.

## Why it matters for currencies

Oil prices move the Canadian dollar and the Norwegian krone most directly. For the link, see [oil prices and the Canadian dollar](/news/oil-prices-and-the-canadian-dollar/). 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)

## Common questions

### When does OPEC+ meet next?

The seven participating countries meet on 1 November 2026, according to their 4 October statement.

### What did OPEC+ decide on 4 October 2026?

They decided to maintain September 2026 required production for November 2026.

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