OPEC+ nations agree to keep production quotas for December at November level
⟶ OPEC+ nations have agreed to maintain their oil production quotas for December at the same levels as November. Specific quotas were set for Russia at 9.949 million barrels a day, Saudi Arabia at 10.478 million barrels a day, and Iraq at 4.431 million barrels a day for December 2026.
Russia’s quota in December 2026 will stand at 9.949 mln barrels a day, Saudi Arabia’s at 10.478 mln barrels a day, Iraq’s - at 4.431 mln barrels a day
Why it matters
The decision by OPEC+ nations to keep production quotas unchanged for December indicates a continuation of current supply strategies. This agreement sets specific production targets for key member countries like Russia, Saudi Arabia, and Iraq.