VIENNA – The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, decided on Sunday to pause oil output increases in October, OPEC said in a statement.

The decision came after a virtual meeting of OPEC+ member countries, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, to review global market conditions and the economic outlook.

ALSO READ: OPEC+ continues to raise oil production by 188,000 bpd in Sept

"The seven participating countries decided to maintain September 2026 required production for October 2026," the statement noted.

The seven OPEC+ countries had been raising oil output on a monthly basis since April 2026.

OPEC said the seven countries will meet next time on October 4 to review market conditions.