Seven OPEC+ countries to maintain September oil production quotas in October

MOSCOW. Sept 7 (Interfax) - The ministers of seven OPEC+ countries (Russia, Saudi Arabia, Algeria, Kuwait, Iraq, Kazakhstan and Oman) have decided to extend the September oil production quotas for October following the results of a traditional monthly online meeting, according to an OPEC press release.

The ceiling level of oil production for the deal's leaders, Saudi Arabia and Russia, has been kept at 10.478 million barrels per day (bpd) and 9.949 million bpd, respectively. Iraq has the right to produce 4.431 million bpd, Kuwait can produce 2.676 million bpd, Kazakhstan 1.628 million bpd, Algeria 1.007 million bpd and Oman 841,000 bpd.

The participants of the agreement reaffirmed their commitment to achieving its full compliance, OPEC said.

The next meeting of the OPEC+ seven will take place on October 4. A meeting of the OPEC+ ministerial committee will take place on the same day.