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Home » OPEC Ratifies Group-Wide Quotas Before July Output Decision
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OPEC Ratifies Group-Wide Quotas Before July Output Decision

omc_adminBy omc_adminMay 29, 2025No Comments3 Mins Read
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OPEC+ ratified group-wide production quotas for this year and next, ahead of a decision by eight key members at the weekend whether to bolster output again in July.

The Organization of the Petroleum Exporting Countries and its partners reaffirmed their longer-term targets for 2025 and 2026, which underpin its current supply restraints, according to a statement after a video conference on Wednesday. 

A more market-sensitive discussion on whether to continue their 411,000 barrel-a-day hikes, which have sent prices crashing over the past two months, will be finalized in a call on Saturday, according to delegates who asked not to be identified.

The sequencing of the meetings underscores how oil quotas for the full 22-nation OPEC+ alliance have receded in importance over the past two years, as actual supply adjustments are carried out by sub-group of eight countries, led by Saudi Arabia and Russia.

It was these nations that shattered market expectations on April 3, when they announced their first super-sized hike — triple the volume originally scheduled. The shock move, unveiled just hours after President Donald Trump launched a global trade war, helped send crude futures to a four-year low below $60 a barrel in the ensuing days, marking a rupture with years of efforts by the coalition to try to shore up prices.  

Brent contracts have since stabilized near $65 as Trump has reversed some of his trade tariffs. 

OPEC+ delegates have offered a range of explanations for the policy reversal: from satisfying summer fuel demand to punishing over-producing members, and from placating President Trump to recouping lost market share.

At Wednesday’s gathering, they also agreed to “develop a mechanism” for setting production baselines in 2027 based on their maximum sustainable capacity, according to the statement.

The 22-nation alliance will hold its next full ministerial meeting on Nov. 30. Its Joint Ministerial Monitoring Committee, which reviews oil markets and can request a full ministerial meeting, will continue to convene every two months.



Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

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