OPEC+ will continue gradually increasing oil production quotas to restore 1.65 million barrels per day of output by September 2026. Saudi Arabia and Russia will lead three additional monthly quota increases to phase out remaining 2023 cuts.
The alliance remains committed to these adjustments despite Middle East instability disrupting key supply routes. Delegates intend to proceed with scheduled hikes even if regional operational challenges limit actual production capacity.
Members approved a production increase of 188,000 barrels per day for June during the May 3 meeting. The group seeks to stabilize global oil prices while navigating ongoing geopolitical risks. Ministers will review this policy at the next meeting on June 7.