Eight OPEC+ countries have decided to resume the process of phasing out additional voluntary production cuts of 1.65 million barrels per day, announced in April 2023, and agreed to adjust production by 206 thousand barrels per day. This is reported on the website of the Cabinet of Ministers of the Russian Federation.
These measures will be implemented in April 2026. OPEC+ countries stressed that 1.65 million barrels per day can be partially or completely returned, depending on changing market conditions.
OPEC+ consists of Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman.
