{"id":621182,"date":"2026-10-05T10:54:09","date_gmt":"2026-10-05T10:54:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/621182\/"},"modified":"2026-10-05T10:54:09","modified_gmt":"2026-10-05T10:54:09","slug":"major-oil-exporters-agree-to-keep-production-steady-in-november","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/621182\/","title":{"rendered":"Major oil exporters agree to keep production steady in November"},"content":{"rendered":"<p>Seven major oil-exporting countries agreed on Monday to keep production steady in November at a time when the Iran war has driven the price of benchmark Brent crude oil above US$100 (NZ$178.35) a barrel.<\/p>\n<p>The so-called OPEC+ subgroup \u2013 Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman \u2013 will meet again on November 1 to review conditions in the oil market.<\/p>\n<p>The fighting with Iran, which began with US and Israeli attacks on February 28, has disrupted global oil supplies and <a href=\"https:\/\/www.1news.co.nz\/2026\/09\/25\/the-region-where-petrol-prices-are-rising-faster-than-anywhere-else\/\" target=\"_blank\" rel=\"nofollow noopener\">driven prices higher<\/a>.<\/p>\n<p class=\"text-greyDarkFaded\">Fuel monitor Gaspy says the cost of 91 has broken the last record of a fraction over $3.50. (Source: 1News)<\/p>\n<p>The Group of Seven wealthy democracies said Saturday that they plan to <a href=\"https:\/\/www.1news.co.nz\/2026\/10\/03\/g7-nations-to-release-100m-barrels-of-oil-and-diesel-fuel-as-prices-soar\/\" target=\"_blank\" rel=\"nofollow noopener\">release 100 million barrels<\/a> of oil and fuel products in the coming weeks, starting with &#8220;substantial&#8221; amounts of diesel. Diesel prices recently hit record highs in the United States, squeezing farmers, truckers and consumers who depend on the fuel.<\/p>\n<p>The G7 promised a &#8220;frontloaded substantial release&#8221; of diesel within the next 20 days and the rest over four months.<\/p>\n","protected":false},"excerpt":{"rendered":"Seven major oil-exporting countries agreed on Monday to keep production steady in November at a time when the&hellip;\n","protected":false},"author":2,"featured_media":621183,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[138,2917,111,139,69],"class_list":["post-621182","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-cost-of-living","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/621182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=621182"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/621182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/621183"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=621182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=621182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=621182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}