India, Sept. 6 -- OPEC+ decided to keep its oil production policy unchanged for October at a meeting on Sunday. The decision comes as the group faces a highly uncertain oil market because the Iran war is disrupting crude exports through the Strait of Hormuz. OPEC+ said it needs to agree on new production quotas before deciding its next steps.

The meeting was attended by Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman. These seven countries have been taking part in OPEC+'s monthly production decisions in recent years. The United Arab Emirates was also part of these monthly decisions until it left OPEC in May. The seven countries are scheduled to meet again on October 4.

The main problem for OPEC+ is that the Iran conflic...