OPEC+ Countries Implement Production Adjustment Of 137,000 Bpd Effective November 2025

Eight OPEC+ nations, including Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman, convened virtually on 5 October 2025. They assessed global market conditions and future prospects. The international organisation stated that these countries had previously announced additional voluntary adjustments in April and November 2023.

The group decided to adjust production by 137 thousand barrels per day from the 1.65 million barrels per day initially announced in April 2023. This change will take effect in November 2025. The adjustment reflects a stable global economic outlook and healthy market fundamentals, indicated by low oil inventories.

The countries emphasised the need for a cautious approach to maintain market stability. They highlighted the importance of flexibility to pause or reverse these voluntary production adjustments as needed. This includes the previously implemented adjustments of 2.2 million barrels per day announced in November 2023.

The eight nations also stressed their commitment to fully comply with the Declaration of Cooperation. They aim to achieve full conformity with the additional voluntary production adjustments monitored by the Joint Ministerial Monitoring Committee (JMMC). Monthly meetings will be held to review market conditions and ensure compliance.

The participating countries noted that this measure allows them to accelerate compensation efforts. They confirmed their intention to fully compensate for any overproduced volume since January 2024. These efforts are part of their collective commitment to stabilise the market.

The next meeting of these eight OPEC+ countries is scheduled for 2 November 2025. During this meeting, they will continue evaluating market conditions, conformity, and compensation strategies.

In summary, OPEC+ remains vigilant in monitoring global oil markets while maintaining flexibility in production adjustments. Their ongoing efforts aim to support market stability through careful planning and cooperation among member nations.

With inputs from WAM