Saudi Arabia, six OPEC nations maintain oil output targets amid U.S.-Iran war

Seven OPEC nations, including Saudi Arabia, reaffirmed their commitment to maintaining current oil production levels following a virtual meeting on Sunday, October 4, 2026. This decision comes amidst a U.S.-Iran conflict that has impacted global oil supply and prices. Saudi Arabia, whose oil pipeline was reportedly hit by missiles, is maintaining its production commitment of over 10 million barrels per day.