OPEC+ Increases Oil Output by 137,000 bpd

By: Sunday Ameh

The Organisation of Petroleum Exporting Countries and its allies (OPEC+) have agreed to increase oil production by 137,000 barrels per day (bpd) beginning in November 2025, following a crucial virtual meeting on October 5.

The participating nations — Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman — said the decision aims to maintain market balance and ensure stability amid improving global economic conditions.

In a statement released after the meeting, OPEC+ noted that the eight countries, which had earlier implemented voluntary production cuts in April and November 2023, decided to adjust output “in view of a steady global economic outlook and current healthy market fundamentals, as reflected in low oil inventories.”

“The eight participating countries decided to implement a production adjustment of 137,000 barrels per day from the 1.65 million barrels per day additional voluntary adjustments announced in April 2023. This will take effect in November 2025.”

The group further explained that the previously withheld 1.65 million barrels per day “may be returned in part or in full, depending on evolving market conditions and in a gradual manner.”

OPEC+ reaffirmed its commitment to monitoring the global oil market closely and maintaining flexibility to pause or reverse any output changes if necessary to prevent volatility.

“This measure will provide participating countries an opportunity to accelerate compensation. The eight countries reiterated their collective commitment to full conformity with the Declaration of Cooperation and additional voluntary production adjustments, which will be overseen by the Joint Ministerial Monitoring Committee (JMMC).”

The alliance also confirmed plans to compensate for any overproduction since January 2024, adding that monthly meetings will continue to review compliance and global market trends.

OPEC+ members are scheduled to reconvene on November 2, 2025, to assess the impact of the latest decision on oil supply, prices, and demand.