OPEC+ has announced plans to increase oil production by 411,000 barrels per day in June 2025, signaling a gradual unwinding of voluntary cuts made in previous months. The decision follows a virtual meeting held on Saturday by eight member countries, including Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman.
This new output level marks a significant rise from the 137,000 barrels per day increase implemented in May, reflecting a cautious but deliberate move by the oil-producing alliance to boost supply amid improving market fundamentals.
The group cited healthy global oil market conditions—highlighted by low inventory levels—as the key driver behind the phased increase. The adjustment aligns with a broader strategy, first agreed in December 2024, to gradually restore 2.2 million barrels per day of voluntary cuts introduced in earlier periods.
“In view of the current healthy market fundamentals… the eight participating countries will implement a production adjustment of 411 thousand barrels per day in June 2025,” the group said in a joint statement. They added that this approach remains flexible, with room to pause or reverse the hikes depending on market shifts.
OPEC+ emphasized that the incremental adjustments are aimed at maintaining market stability while enabling member states to make up for any excess production since January 2024. The Joint Market Monitoring Committee (JMMC), which met on April 3rd, will continue overseeing compliance with the voluntary output caps.
The coalition reaffirmed its commitment to full adherence to the Declaration of Cooperation and said the June increase will also help accelerate compensation efforts by countries that exceeded previous production limits.
The group is scheduled to reconvene on June 1, 2025, to assess market conditions and determine oil production levels for July.
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