Eight OPEC+ Members Agree On New Output Adjustment

2025-09-07 09:15:13

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 7. The eight OPEC+ countries - Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman - held a virtual meeting on 7 September 2025 to assess global oil market conditions, Trend reports, citing OPEC.

Citing a stable economic outlook and healthy market fundamentals, the group decided to implement an additional production adjustment of 137,000 barrels per day from the voluntary cuts of 1.65 million bpd announced in April 2023. The change will take effect in October 2025, with the option to gradually restore volumes depending on market conditions.

The countries reaffirmed their commitment to the Declaration of Cooperation and emphasized flexibility to pause or reverse previous voluntary cuts, including the 2.2 million bpd reduction announced in November 2023. They also pledged to fully compensate for any overproduction since January 2024.

The group will continue monthly reviews, with the next meeting scheduled for 5 October 2025.

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