Seven OPEC+ countries decides to keep current oil production quotas for November

MOSCOW. Oct 5 (Interfax) - The ministers of seven OPEC+ countries (Russia, Saudi Arabia, Algeria, Kuwait, Iraq, Kazakhstan and Oman) decided to extend the current oil production quotas for November following their traditional monthly online meeting, OPEC said in a press release.

Maximum oil production for the leaders of the deal - Saudi Arabia and Russia - is 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 can produce 1.628 million bpd, Algeria can produce 1.007 million bpd and Oman can produce 841,000 bpd.

The participants of the agreement confirmed their commitment to achieving its full implementation, OPEC said.

The seven countries will continue to hold monthly meetings to review market conditions, it said. The next meeting will take place on November 1.