Eight OPEC+ nations have approved a production adjustment of 206,000 barrels per day effective May 2026, reaffirming their commitment to global oil market stability while warning against attacks on energy infrastructure and maritime routes.
VIENNA: Eight OPEC+ member nations have agreed to increase oil output by 206,000 barrels per day from May 2026, following a virtual meeting held to review global market conditions and future outlook. The adjustment falls within the framework of the 1.65 million barrels per day additional voluntary adjustments announced in April 2023, and reaffirms the group’s collective commitment to supporting stability in global oil markets.
The participating countries, comprising the UAE, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, emphasised their intention to maintain full flexibility regarding the pace of production changes, including the possibility of pausing, reversing or accelerating the gradual phase-out of voluntary cuts. They noted that the total 1.65 million bpd may be returned to the market partially or fully depending on evolving conditions.
The eight nations also reaffirmed their commitment to full compliance with the Declaration of Cooperation and confirmed their intention to compensate fully for any excess production recorded since January 2024.
In a pointed statement, the group expressed serious concern over attacks targeting energy infrastructure, warning that restoring damaged assets to full production capacity requires significant time and cost. They stressed that any actions undermining energy supply security, whether through infrastructure attacks or disruption of maritime routes, contribute to increased market volatility and weaken collective efforts to maintain stability for producers, consumers and the global economy.
The countries also commended initiatives by some members to ensure supply continuity through alternative export routes, which have helped reduce market volatility during a period of heightened regional tensions. Their next meeting is scheduled for May 3, 2026.
