The Organization of Petroleum Exporting Countries and its allies, OPEC+, has increased oil output by 137,000 barrels per day (bpd), and the nations , Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman have decided to increase the output from November 2025 after a crucial meeting in order to achieve market stability.
In its statement, OPEC+ stated that the eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, met virtually on 5 October 2025, to review global market conditions and outlook.
However, It added that they also confirmed their intention to fully compensate for any overproduced volume since January 2024, and the eight OPEC+ countries will hold monthly meetings to review market conditions, conformity, and compensation, when they meet on 2 November 2025.
