OPEC+ to increase oil production by 137,000 barrels per day in December

(Patria) - Eight member countries of the OPEC+ alliance have agreed to adjust their oil production by an additional 137,000 barrels per day starting in December 2025, Al Arabiya reported.

This move is part of the group's previously announced voluntary cuts totaling 1.65 million barrels per day, first introduced in April 2023.
The eight countries (Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman) reaffirmed their commitment to maintaining stability in global oil markets amid positive market fundamentals and stable global economic outlooks. They stated that the adjustment is in line with these improved conditions.

The eight countries, all part of the OPEC+ group that previously announced additional voluntary production adjustments in April and November 2023, held a virtual meeting on Sunday to review current market developments and assess future prospects.

The decision is based on stable global economic outlooks and positive fundamentals observed in oil markets, reflected in the recent decline in oil inventories.

After December, and in light of seasonal factors, the eight countries have agreed to pause monthly production increases during January, February, and March 2026.

The countries emphasized that the previously agreed-upon production cut of 1.65 million barrels per day could be partially or fully reinstated over time, depending on market conditions. They also committed to continuing to closely monitor and assess oil market trends.

As part of their ongoing efforts to support market stability, the eight OPEC+ members reiterated the importance of adopting a cautious and flexible approach, allowing them to pause or reverse voluntary production adjustments if necessary. This includes earlier voluntary cuts of 2.2 million barrels per day announced in November 2023.

The countries also noted that this latest decision will provide participating members with an opportunity to accelerate their compensation process, referring to adjustments made to compensate for previous overproduction. They reaffirmed their commitment to the Declaration of Cooperation, under which these voluntary adjustments are monitored by the Joint Ministerial Monitoring Committee (JMMC).

The statement added that member states remain determined to fully compensate for any overproduction from January 2024.

The eight countries will continue to meet monthly to monitor market conditions, compliance levels, and progress on compensation plans. The next meeting is scheduled for November 30, 2025.