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Beyond December, the eight countries agreed to pause production increments during January, February, and March 2026, citing seasonal factors that typically influence oil demand at the start of the year. The pause will ensure stability and avoid market imbalances that could arise from fluctuating demand during the winter period.
Eight OPEC+ member countries, Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, have agreed to implement a production adjustment of 137,000 barrels per day (bpd) starting in December 2025, in response to what they described as steady global economic conditions and healthy oil market fundamentals.
The decision was reached during a virtual meeting held on November 2, 2025, where the eight countries reviewed market developments and assessed short-term outlooks. The latest adjustment stems from the additional voluntary cuts of 1.65 million bpd initially announced in April 2023.
According to a joint statement, the participating members noted that the oil market remains well-balanced, with relatively low inventory levels indicating strong fundamentals. The modest output reduction, they said, reflects a proactive effort to maintain market stability and align supply with evolving global demand trends.
Beyond December, the eight countries agreed to pause production increments during January, February, and March 2026, citing seasonal factors that typically influence oil demand at the start of the year. The pause will ensure stability and avoid market imbalances that could arise from fluctuating demand during the winter period.
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The producers also reaffirmed that the previously announced 1.65 million bpd voluntary cut may be returned, either partially or fully, depending on market conditions.
