Alexander Novak attends a meeting of seven OPEC+ countries
Deputy Prime
Minister Alexander Novak co-chaired a meeting of the seven OPEC+ countries,
namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, which
previously announced additional voluntary adjustments in April and November
2023.
The seven countries issued a decision to maintain the required production
levels established for September 2026, effective from October 2026.
They also reaffirmed their collective commitment to achieving full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that will be monitored by the Joint Ministerial Monitoring Committee (JMMC).
The seven OPEC+ countries will hold monthly meetings to review market conditions. The next meeting has been scheduled for 4 October 2026.
