HOUSTON, TEXAS (Editors at Energy Analytics Institute, 3.Apr.2025) — 8 OPEC+ countries — Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria and Oman — reaffirmed their commitment to stabilizing the oil market and upward production adjustments.
The 8 OPEC+ countries previously announced additional voluntary adjustments in Apr. 2023 and Nov. 2023.
In view of the continuing healthy market fundamentals and the positive market outlook, and in accordance with the decision agreed upon on 5 Dec. 2024, subsequently reaffirmed on 3 Mar. 2025, to start a gradual and flexible return of the 2.2 million barrels per day (MMb/d) voluntary adjustments starting from 1 Apr. 2025, the 8 OPEC+ countries agreed to implement a production adjustment of 0.411 MMb/d, which is equivalent to 3 monthly increments, in May 2025.
The agreement was solidified on 3 Apr. 2025 during a virtual meeting to review global market conditions and outlook.
“This comprises the increment originally planned for May in addition to two monthly increments. The gradual increases may be paused or reversed subject to evolving market conditions,” the Organization of the Petroleum Exporting Countries (OPEC) said on 3 Apr. 2025 in an official statement. “This flexibility will allow the group to continue to support oil market stability.”
Also, the 8 OPEC+ countries noted the measure will provide an opportunity for the participating countries to accelerate their compensation.
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By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
