Saudi Arabia, Russia, Iraq, the Emirates, Kuwait, Kazakhstan, Algeria and Oman confirm its joint commitment to support the stability of the petroleum market
The eight members of the & quot; OPEC Plus & quot; Which includes the Kingdom of Saudi Arabia, Russia, Iraq, the Emirates, Kuwait, Kazakhstan, Algeria and Oman, which previously announced additional volunteer amendments in April and November of 2023, a virtual meeting on April 3, 2025 to follow up on the developments of the global market and review its conditions. It was reaffirmed on March 3, 2025, regarding the gradual and flexible return of voluntary production modifications of 2.2 million barrels per day starting from April 1, 2025, the participating countries decided to implement a production amendment of 411 thousand barrels per day during the month of May 2025, which is equivalent to three monthly increases, including the plan for May, in addition to two additional increases.
& nbsp; Until these increases are adjustable or temporarily stopping, according to the market changes, in a manner that ensures the continued support of the stability of the petroleum market. (JMMC) held on April 3, 2024, and confirmed its intention to compensate the full excess amounts of production since January 2024, and to provide updated and speedy compensation plans to the OPEC Municipality, no later than April 15, 2025. These countries will provide updated compensation schedules to the OPEC Secretariat by April 15, 2025, where it will be published on the website For honesty. To determine the production levels of June.
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