OPEC+ raises June oil output by 188,000 bpd

May 04, 2026 / 10:41 AM

Sharjah24 - WAM: The seven OPEC+ countries that previously announced additional voluntary production adjustments in April and November 2023—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—held a virtual meeting on 3 May 2026 to review global market conditions and the outlook.

Production increase agreed for June 2026

In a continued commitment to supporting oil market stability, the participating countries agreed to implement a production adjustment increase of 188,000 barrels per day. This change will come from the additional voluntary adjustments announced in April 2023 and will take effect in June 2026.

Flexible approach to output adjustments

The countries noted that the additional voluntary adjustments introduced in April 2023 may be returned either partially or fully, depending on evolving market conditions. Any changes would be made gradually.

Monthly monitoring and next meeting

The seven OPEC+ members will continue to hold monthly meetings to assess market conditions, production compliance, and compensation levels. Their next meeting is scheduled for 7 June 2026.