BETH – Riyadh | 3 August 2025 – 09 Safar 1447 AH

The eight member states of the OPEC+ group—comprising Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman—held a virtual meeting on 3 August 2025 to review the latest developments in the oil market and assess its future outlook.

🛢️ New Output Adjustment Announced

In light of improving global economic prospects and current positive market fundamentals—particularly the decline in oil inventories—the participating countries agreed to proceed with the gradual and flexible restoration of the 2.2 million barrels per day voluntary cuts, as previously decided during the 5 December 2024 meeting.

Accordingly, the group approved an output increase of
📈 547,000 barrels per day for September 2025,
compared to the required production level in August 2025.
This adjustment represents the equivalent of four monthly increments.

🔄 Flexibility and Market Responsiveness

The group reaffirmed that this phased approach remains:

Subject to revision or temporary suspension depending on market conditions.

A mechanism to provide greater flexibility to stabilize the global oil market.

An opportunity for participating countries to accelerate compensation efforts for previous overproduction.

🛡️ Continued Commitment to Cooperation and Oversight

The eight countries reiterated their full commitment to the Declaration of Cooperation, including the additional voluntary adjustments that were agreed upon for monitoring during the
53rd Joint Ministerial Monitoring Committee (JMMC) meeting held on 3 April 2024.

They also reaffirmed their intention to fully compensate for all excess production since January 2024, demonstrating their serious and unified approach to coordinated market stability.

📅 Monthly Meetings to Follow

OPEC+ announced that it will hold monthly meetings to:

Monitor market developments

Review compliance levels

Oversee implementation of compensation plans

📌 The next scheduled meeting will take place on 7 September 2025.