The Organisation of the Petroleum Exporting Countries and its allies (OPEC+) have agreed to a modest increase of 137,000 barrels per day (bpd) in oil production starting November 2025, maintaining a cautious stance to balance supply and demand amid growing concerns over a potential global oil glut.
At a virtual meeting, the eight member countries—Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman—reaffirmed their commitment to market stability and steady economic growth. The group noted that despite low oil inventories and a stable economic outlook, a gradual output rise was necessary to prevent market disruptions.
According to a statement on OPEC's website, the 137,000 bpd adjustment will be drawn from the 1.65 million bpd voluntary cuts announced in April 2023. The increase may be reviewed or reversed depending on evolving market conditions.
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OPEC+ members also pledged to compensate for any overproduction since January 2024 and to hold monthly meetings to monitor market dynamics and compliance levels. The next meeting is scheduled for November 2, 2025.
Analysts believe the decision reflects OPEC+'s effort to maintain stability amid differing views between Saudi Arabia, which seeks a faster output recovery, and Russia, which favours a slower approach due to sanctions and production limits.
Brent crude prices fell below $65 per barrel following the announcement, though experts expect a short-term rebound as the modest increase reassures traders that the group remains focused on stability rather than aggressive expansion.
