Eight key members of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) have agreed to raise oil production by 137,000 barrels per day (bpd) starting in December, according to a statement released by the group on Sunday.
The alliance—comprising Saudi Arabia, Russia, Iraq, the United Arab Emirates (UAE), Kuwait, Kazakhstan, Algeria, and Oman—held a virtual meeting to evaluate current global oil market dynamics and the economic outlook heading into 2026.
OPEC+ confirmed that after December’s production boost, there will be a pause on further output increases between January and March 2026, citing seasonal demand patterns.
The 137,000-bpd adjustment marks a gradual and partial reversal of the 1.65 million bpd voluntary production cuts introduced in April 2023. The decision reflects the group’s confidence in a stable global economic environment and strong oil market fundamentals, underscored by declining global inventories.
In its statement, OPEC+ reaffirmed its commitment to monitor global energy developments closely and maintain flexibility to alter production levels if market conditions shift. The alliance said it remains ready to pause or reverse adjustments, including the 2.2 million bpd voluntary reductions initially introduced in November 2023.
The latest decision follows a similar 137,000 bpd output increase for November, approved during the group’s previous meeting on October 5.
Cumulative OPEC+ production cuts reached 5.85 million bpd in March 2025, equivalent to about 5.7% of global oil demand. These reductions include a 2 million bpd cut from October 2022, followed by the 1.65 million bpd voluntary reduction in April 2023, and the 2.2 million bpd cut in November 2023.
Member countries had fully reversed the 2.2 million bpd cut by the end of September 2025 and began rolling back the 1.65 million bpd cut in October, signaling a return to more normalized production levels as market balance improves.
OPEC+ will reconvene for its next ministerial meeting on November 30, 2025, to assess ongoing market conditions and future supply strategies.
 have agreed to raise oil production by 137,000 barrels per day (bpd) starting in December, according to a statement released by the group on Sunday.){kind=link}