In numbers .. the Kingdom and 7 countries from “OPEC Plus” decided to increase oil production
The participating countries decided to implement a production amendment of 411 thousand barrels per day in the month of June 2025 AD compared to the level of production required in May 2025 AD, which is equivalent to three monthly increases.
Increase oil production
This comes based on what was agreed upon at the December 5, 2024 meeting on the gradual and flexible restoration of voluntary production amendments of 2.2 million barrels per day as of April 1, 2025 AD,
It is noteworthy that these increases are temporarily adjustable or suspended, according to market variables, which gives the group the necessary flexibility to support the stability of the market.
The countries emphasized that this measure provides an opportunity to accelerate compensation plans for the participating countries.
Petroleum market developments
The eight countries also renewed their full commitment to declaring cooperation, including the additional voluntary amendments agreed at the fifty -third meeting of the Joint Ministerial Committee to monitor production held on April 3, 2024 AD.
She stressed its intention to compensate for the full excessive amounts of production since January 2024 AD, and the eight countries will hold monthly meetings to follow up the developments of the market.
As well as following up the level of commitment and implementing compensation plans, provided that the next meeting will be held on June 1, 2025 AD to determine the production levels of July.
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