Eight members of the OPEC+ alliance announced on Sunday that they will increase their collective oil output by 137,000 barrels per day (bpd) beginning in December 2025, following an online ministerial meeting aimed at reviewing market stability and global demand trends.

According to a statement released after the meeting, Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman jointly agreed to the modest production increase, citing stable global economic indicators and low oil stock levels as the main reasons behind the adjustment.

“This decision reflects the group’s commitment to maintaining a balanced and stable oil market while ensuring adequate supply to support global economic growth,” the statement said.

The output increase comes as part of a gradual revision to the 1.65 million bpd voluntary cuts introduced in April 2023.
OPEC+ members emphasized that market fundamentals have improved and that the upcoming production adjustment aims to prevent supply tightness while preserving price stability.

In addition, the eight producers announced that they plan to pause further production increases during the January–March 2026 period due to seasonal demand patterns and refinery maintenance cycles.

Energy analysts described the move as a “calibrated step” designed to maintain equilibrium in oil markets amid slowing U.S. shale output and ongoing geopolitical uncertainties.

The OPEC+ group – which includes 23 oil-producing nations led by Saudi Arabia and Russia – continues to play a pivotal role in regulating global oil supply to sustain price stability and support market balance.

Global benchmark Brent crude rose slightly following the announcement, trading near $84 per barrel on Monday, as markets reacted to the group’s cautious production strategy.(ILKHA)