OPEC+ to raise output by 411,000 barrels daily in July 2025
Market outlook and production strategy
Citing a stable global economic outlook and healthy market fundamentals, such as low oil inventories, the group decided to move forward with a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments. This decision aligns with the earlier agreement made on 5 December 2024.
July production adjustment: 411,000 barrels per day
Starting in July 2025, the eight countries will implement a production increase of 411,000 barrels per day compared to June 2025 levels. This adjustment reflects the equivalent of three monthly increments. The plan includes flexibility to pause or reverse these increases depending on how market conditions evolve, maintaining support for oil market stability.
Opportunity for accelerated compensation
The participating countries emphasized that this measured increase provides an opportunity to accelerate compensation efforts. They reaffirmed their commitment to achieving full conformity with the Declaration of Cooperation, including the voluntary production adjustments monitored by the Joint Ministerial Monitoring Committee (JMMC) during its 53rd meeting on 3 April 2024.
Commitment to full compensation
The eight countries also confirmed their intention to fully compensate for any overproduction since January 2024. Monthly meetings will be held to assess market conditions, monitor conformity, and track compensation progress.
Next meeting scheduled for 6 July 2025
The group will reconvene on 6 July 2025 to determine production levels for August, continuing their coordinated approach to managing oil market stability.
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Eight OPEC+ member countries, including Saudi Arabia, Russia, and the UAE, will modestly increase oil production by 411,000 barrels per day in July 2025, citing stable global economic conditions and strong market fundamentals. The decision follows a virtual meeting held on 31 May 2025, where the group reviewed market trends and reaffirmed their gradual return strategy for the 2.2 million barrels per day of voluntary cuts announced in 2023. The move aligns with the plan agreed upon on 5 December 2024 to begin phased adjustments starting April 2025. The July increase marks the third step in a scheduled series of monthly hikes. However, OPEC+ emphasized that the pace of adjustments remains flexible and could be paused or reversed based on market shifts. This approach, the group noted, aims to uphold market stability while allowing time to compensate for past overproduction. The participating countries—Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman—reiterated their commitment to the Declaration of Cooperation and pledged full compliance with production targets. They also reaffirmed their intention to offset any excess output since January 2024. Monthly reviews will continue, with the next meeting set for 6 July 2025 to determine August output levels. News Source: Emirates News Agency
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Market outlook and production strategy Citing a stable global economic outlook and healthy market fundamentals, such as low oil inventories, the group decided to move forward with a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments. This decision aligns with the earlier agreement made on 5 December 2024. July production adjustment: 411,000 barrels per day Starting in July 2025, the eight countries will implement a production increase of 411,000 barrels per day compared to June 2025 levels. This adjustment reflects the equivalent of three monthly increments. The plan includes flexibility to pause or reverse these increases depending on how market conditions evolve, maintaining support for oil market stability. Opportunity for accelerated compensation The participating countries emphasized that this measured increase provides an opportunity to accelerate compensation efforts. They reaffirmed their commitment to achieving full conformity with the Declaration of Cooperation, including the voluntary production adjustments monitored by the Joint Ministerial Monitoring Committee (JMMC) during its 53rd meeting on 3 April 2024. Commitment to full compensation The eight countries also confirmed their intention to fully compensate for any overproduction since January 2024. Monthly meetings will be held to assess market conditions, monitor conformity, and track compensation progress. Next meeting scheduled for 6 July 2025 The group will reconvene on 6 July 2025 to determine production levels for August, continuing their coordinated approach to managing oil market stability.
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