The OPEC+ has agreed to increase oil production by 188,000 barrels per day (bpd) in June, marking its first coordinated adjustment following the exit of the United Arab Emirates from the alliance, according to an official statement issued by OPEC.
The increase will be distributed among key producers including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. The adjustment is broadly in line with earlier production increases approved for April, although the allocation has been revised to reflect the UAE’s departure.
Following a virtual meeting, the alliance reiterated its commitment to a flexible and cautious production strategy, noting that voluntary cuts introduced in April 2023 could be reinstated or adjusted depending on market conditions.
OPEC+ emphasised that member countries will continue to closely monitor global oil markets and retain the ability to increase, pause, or reverse production changes as needed to support price stability.
The group also reaffirmed its commitment to full compliance with agreed production targets, including compensating for any excess output recorded since January 2024. Oversight will remain under the Joint Ministerial Monitoring Committee.
The production decision comes amid ongoing volatility in global energy markets, with geopolitical tensions affecting supply chains and shipping routes. According to OPEC data, the alliance has effectively removed around 7.7 million bpd from the market since the escalation of regional tensions, highlighting the scale of supply adjustments.
Despite these disruptions, OPEC maintained its outlook for stable global oil demand growth over the current and upcoming years, indicating confidence in underlying consumption trends.
The next OPEC+ meeting is scheduled for June 7, where further production decisions will be reviewed in light of evolving market conditions.
As The Middle East Observer notes, the latest move underscores OPEC+’s shift toward dynamic supply management, balancing market stability with internal realignments following the UAE’s exit. The Middle East Observer highlights that maintaining cohesion and compliance among remaining members will be critical in preserving the alliance’s influence over global oil markets in an increasingly uncertain and competetive energy landscape.
