Seven OPEC+ countries have agreed to adjust oil production by 188,000 barrels per day starting in June 2026.
Axar.az reports, in an official statement issued by the organization, the seven participating countries—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—held a virtual meeting on 3 May 2026 to review global market conditions and outlook.
According to the statement, the adjustment is part of previously announced additional voluntary production measures from April 2023 and reflects the group’s ongoing commitment to supporting market stability.
The countries also reaffirmed their intention to maintain flexibility in increasing, pausing, or reversing production adjustments depending on market developments.
The decision was taken during an online conference attended by Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman.
Source: en.axar.az
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