World News
Seven OPEC+ Members Keep October Oil Output Unchanged
Seven OPEC+ members have agreed to keep oil production levels unchanged for October.
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman decided to maintain September production levels for October following a virtual meeting on September 6, OPEC said in a press release on Sunday.
The decision comes after the seven countries agreed to increase production by 188,000 b/d for September.
“The seven OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 6 September 2026, to review global market conditions and outlook,” it said.
The seven countries will hold the next meeting on October 4.
The UAE, which had previously participated in the monthly output decisions, left OPEC in May.
It was also part of the group of eight countries involved in the production adjustments in recent years.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 934.00 | 20.50 | 1272.50 | 18.50 |
| Rotterdam | 755.50 | 15.00 | 1403.00 | 10.50 |
| Houston | 780.50 | 13.00 | 1408.50 | 24.00 |
| Fujairah | 973.00 | 6.00 | 1638.00 | 31.50 |
| Global 20 Ports Average | 911.50 | 8.00 | 1532.50 | 7.50 |
| Global 4 Ports Average | 861.00 | 14.00 | 1430.50 | 21.50 |
| Global Average Bunker Price | 958.50 | 4.00 | 1599.00 | 2.00 |
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