OPEC+ Countries Reaffirm Commitment To Market Stability With Production Adjustments In August 2025

The eight OPEC+ nations, including Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman, convened virtually on 5 July 2025. They assessed the global market conditions and outlook. These countries had previously announced voluntary adjustments in April and November 2023.

In light of a stable global economic outlook and healthy market fundamentals indicated by low oil inventories, these nations will adjust production by 548 thousand barrels per day in August 2025. This adjustment follows the decision made on 5 December 2024 to gradually return the 2.2 million barrels per day voluntary adjustments starting from 1 April 2025.

The planned increase is equivalent to four monthly increments as shown in the table below. The flexibility to pause or reverse these increases allows the group to maintain oil market stability. This approach provides an opportunity for participating countries to expedite their compensation efforts.

The eight OPEC+ countries reaffirmed their commitment to fully adhere to the Declaration of Cooperation. This includes additional voluntary production adjustments monitored by the JMMC during its meeting on 3 April 2024. They also confirmed their intention to compensate for any overproduction since January 2024.

Monthly meetings will be held by these countries to review market conditions, conformity, and compensation efforts. The next meeting is scheduled for 3 August 2025, where they will decide on production levels for September.

This ongoing evaluation process ensures that the group can adapt to changing market dynamics while supporting overall stability in the oil market.

With inputs from WAM