urgent: "OPEC+" The voluntary reduction is maintained to support the stability of the petroleum market
The eight participating countries also reaffirmed that the reduction amounts amounting to 1.65 million barrels per day may be restored partially or completely, Gradually, according to market variables, the participating countries will continue to closely monitor and evaluate market conditions. As part of their continuing efforts to support market stability, the eight countries reaffirmed the importance of adopting a cautious approach and maintaining full flexibility to continue to stop or reverse additional voluntary production adjustments, including the previous voluntary production adjustments of 2.2 million barrels per day announced in November 2023. The countries renewed The eight countries committed to the Declaration of Cooperation, including additional voluntary amendments to which compliance will be monitored by the Joint Ministerial Oversight Committee. The countries also confirmed their intention to compensate for the entire excess production quantities since January 2024. The eight countries will hold monthly meetings to follow up on market developments, the level of commitment, and the implementation of compensation plans, with the next meeting to be held on January 4, 2026.
The eight member countries were held in a group ""which includes the Kingdom of Saudi Arabia OPEC Plus Decisions OPEC Plus oil production
