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Eight OPEC+ countries to set October production plan on Sunday

07 September 2025 00:52 (UTC +04:00)

Eight OPEC+ countries, including Russia and Saudi Arabia, will decide on an oil production plan for October at an online meeting on Sunday, APA reports citing Bloomberg.

Since the beginning of 2024, the OPEC+ nations — Russia, Saudi Arabia, Iraq, the United Arab Emirates, Kazakhstan, Algeria, Oman and Kuwait — have voluntarily reduced oil production by a total of 2.2 million bpd.

Bloomberg, citing sources, reported the day before that Saudi Arabia is promoting an accelerated increase in oil production by OPEC+ members to restore its market share. It said the OPEC+ will consider what to do with the remaining limit on oil production of 1.65 million bpd, which is valid until the end of 2026.

Russian Deputy Prime Minister Alexander Novak earlier said that the OPEC+ group of eight makes decisions during meetings.

"We don't have an agenda, we always consider the current situation and forecasts as a whole, and based on this, we resolve issues on the spot," he said.