To support the stability of the market .. “OPEC Plus” raises production 411 thousand barrels per day
And based on what was agreed upon at the December 5, 2024 meeting, which was reaffirmed on March 3, 2025, regarding the gradual and flexible return of volunteer production amendments amounting to 2.2 million barrels per day as of April 1, 2025, the participating countries decided to implement a production amendment of 411 thousand barrels per day during the month of May 2025, equivalent to three monthly increases, including the established increase for May, in addition to two increases. Two additional.
The stability of the petroleum market
It is noteworthy that increases are subject to adjustable or temporarily stopping, according to market variables, in order to ensure continued support for stability.
The countries confirmed that the procedure gives an opportunity to accelerate compensation plans for the participating countries. The eight countries also renewed their commitment to the voluntary amendments agreed at the fifty -third meeting of the Joint Ministerial Monitoring Committee (JMMC) held on April 3, 2024.
She confirmed its intention to compensate the full excessive quantities of production since January 2024, and to provide updated and speedy compensation plans to trust, no later than April 15, 2025. These countries will provide updated compensation schedules to the OPEC Municipality by April 15, 2025, where it will be published on the website of the Secretariat.
The eight countries will hold monthly meetings to follow up on market developments, compliance rates, and implement compensation plans, provided that a meeting will be held on May 5, 2025; To determine the production levels of June.
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