OPEC Plus Holds Oil Production Steady as U.S.-Iran Strikes Resume

The cartel of influential oil-producing nations known as OPEC Plus said on Sunday that it would keep production flat as the price of Brent crude, the global benchmark for oil, spiked sharply in recent days after military strikes resumed in the Persian Gulf.

It was the first time since April that the Organization of the Petroleum Exporting Countries and some of its allies including Russia, operating as a group called OPEC Plus, have opted against boosting production. The monthly increases had been largely symbolic because the war in Iran has scrambled the oil market and interrupted exports. They were meant to send a signal that the consortium was conducting business as usual, despite the war in Iran.

“The seven participating countries decided to maintain September 2026 required production,” for October, the consortium said in a statement.

The countries involved in Sunday’s decision were Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman. Their next meeting will be held on Oct. 4.

Article source: https://www.nytimes.com/2026/09/06/business/opec-iran-war-oil-production.html