✍️ Economic Analysis – BETH Media Agency

The eight-member states of OPEC+ – Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman – convened via video conference today to assess the latest oil market developments and future outlook.

The group agreed to implement a production adjustment of 411,000 barrels per day for June 2025, compared to May levels. This move follows the previously agreed roadmap from the December 5, 2024 meeting, which called for a gradual and flexible restoration of the 2.2 million bpd voluntary cuts starting April 1, 2025.

📌 This June increase equals the equivalent of three monthly increments and remains subject to modification or suspension depending on market dynamics – giving the alliance critical flexibility to maintain market stability.

🛢️ The eight countries reaffirmed their full commitment to the Declaration of Cooperation, including the voluntary adjustments outlined in the 53rd JMMC meeting (April 3, 2024), and pledged to compensate for any overproduction since January 2024.

📅 The next meeting is scheduled for June 1, 2025, to determine production levels for July.

🧭 Key Message: The oil market is now being managed with "cool heads and flexible levers."