Vienna, 1 November. Seven OPEC+ countries — Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman — decided at an online meeting on 1 November to keep September’s required production level for December 2026, OPEC said; for Kazakhstan it is 1.628 million barrels a day.
The required levels for December, according to the table attached to OPEC’s statement, as Arab News gives them, are as follows: 10.478 million barrels a day for Saudi Arabia, 9.949 million for Russia, 4.431 million for Iraq, 2.676 million for Kuwait, 1.628 million for Kazakhstan, 1.007 million for Algeria and 0.841 million for Oman. The agency Kazinform also reported the results of the meeting. The seven countries’ joint target is about 31 million barrels a day, as in September, October and November, The National writes. This is the third month in a row without change: targets were also kept for October and for November, after the countries completed in September the phased return of 1.65 million barrels a day, Reuters notes.
Kazakhstan’s actual output is above the required level. According to OPEC’s monthly report, in September the country produced 1.851 million barrels of oil a day, excluding gas condensate, Reuters reported: that is about 223,000 barrels a day more than the level of 1.628 million. The December statement contains no data for October or on a compensation schedule.
The decision was taken against the background of the US–Iran war, which disrupts oil supplies: Brent, according to The National, is trading above 117 dollars a barrel. Agencies expected that there would be no policy adjustments before next year; the next meeting of the seven countries is set for 29 November. Attention remains on the assessment of maximum capacity, which will be used to set baseline production levels from 2027.
What it means: For Kazakhstan nothing changes for December: the level is the same as has applied since September, while September output ran above it. The main discussion of baseline levels for 2027 is put off until the November meeting.
What we know now: The required levels for December have been approved, and the next meeting is set for 29 November. It is not reported what Kazakhstan’s output was in October, whether the country has a compensation schedule for the excess, or what baseline levels participants will receive for 2027.
Background: In September 2025 OPEC gave Kazakhstan a level of 1.55 million barrels a day, without compensation. Over the year it has risen by 78,000 barrels a day.
