The Organisation of the Petroleum Exporting Countries (OPEC+) decided to implement a production adjustment of 137 thousand barrels per day (bpd) from the 1.65 million bpd additional voluntary adjustments announced in April 2023. The adjustment will take effect in December 2025. The decision was made during a virtual meeting on 2 November 2025 attended by eight OPEC+ members — Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman — to review global market conditions and the economic outlook. The countries noted that steady global growth and low oil inventories reflect healthy market fundamentals. Beyond December, the eight producers agreed to pause production increases during January, February, and March 2026 due to seasonal factors. They also reaffirmed that the 1.65 million bpd may be returned in part or in full, depending on evolving market conditions, and in a gradual manner. The participating countries reiterated their commitment to market stability and flexibility in managing output, including the previously implemented 2.2 million bpd voluntary adjustments announced in November 2023. OPEC+ members stated that this measure will help accelerate compensation efforts and ensure full conformity with the Declaration of Cooperation, which is monitored by the Joint Ministerial Monitoring Committee (JMMC). The group also confirmed its intention to fully compensate for any overproduction since January 2024 and will hold monthly meetings to assess market conditions, conformity, and compensation, with the next meeting scheduled for 30 November 2025. Attribution: Amwal Al Ghad English
