A statement posted on OPEC’s website on Sunday revealed that Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman “decided to implement a production adjustment of 137,000 barrels per day” at a virtual meeting on September 7.
“The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023 … met virtually on 7 September 2025 to review global market conditions and outlook,” the statement noted.
“In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, the eight participating countries decided to implement a production adjustment of 137,000 barrels per day from the 1.65 million barrels per day additional voluntary adjustments announced in April 2023,” it added.
This adjustment will be implemented in October 2025, the statement said. A table accompanying the statement outlined that Saudi Arabia and Russia’s adjustment amounts to 42,000 barrels per day, each. Iraq’s comes to 17,000 barrels per day, the UAE’s is 12,000 barrels per day, Kuwait’s is 11,000 barrels per day, Kazakhstan’s is 6,000 barrels per day, Algeria’s is 4,000 barrels per day, and Oman’s is 3,000 barrels per day, the table outlined.
“The 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner,” the statement posted on OPEC’s site noted.
“The countries will continue to closely monitor and assess market conditions, and in their continuous efforts to support market stability, they reaffirmed the importance of adopting a cautious approach and retaining full flexibility to pause or reverse the additional voluntary production adjustments, including the previously implemented voluntary adjustments of the 2.2 million barrels per day announced in November 2023,” it added.
“The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation,” it continued.
“The eight countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that will be monitored by the Joint Ministerial Monitoring Committee (JMMC),” the statement went on to note.
The countries also “confirmed their intention to fully compensate for any overproduced volume since January 2024”, according to the statement, which noted that the eight OPEC+ countries will hold monthly meetings to review market conditions, conformity, and compensation. The statement revealed that the eight countries will meet again on October 5.
The table accompanying the statement highlighted that October 2025 “required production” is 10.020 million barrels per day for Saudi Arabia, 9.491 million barrels per day for Russia, 4.237 million barrels per day for Iraq, 3.387 million barrels per day for the UAE, 2.559 million barrels per day for Kuwait, 1.556 million barrels per day for Kazakhstan, 963,000 barrels per day for Algeria, and 804,000 barrels per day for Oman.
In a market analysis sent to Rigzone on Monday morning, Dilin Wu, Research Strategist at Pepperstone, highlighted that OPEC+ “agreed to increase production by 137,000 barrels per day next month”, adding that, “since the market largely anticipated this move, the ‘news effect’ actually pushed crude higher in early trading”.
“That said, the long-term price pressure from rising supply remains a key concern,” Wu warned in the analysis.
“Since April, their cumulative output increases have already surpassed the 2.2 million barrels per day of voluntary cuts announced in July 2023 – achieved a full year ahead of schedule,” Wu said.
“This highlights a strategic shift: OPEC+ is now focused on defending market share rather than supporting prices, keeping upward pressure in check,” Wu added.
Wu went on to note in the analysis, however, that OPEC+ “may still struggle to fully meet its production targets due to compensatory cuts, inconsistent compliance among members, and capacity limits”.
In a note sent to Rigzone by the Sparta Commodities team on Monday morning, Neil Crosby, Oil Analytics AVP at Sparta, said the “flat price enjoyed the announcement from OPEC”.
“The small hike might as well be labelled a pause but for marketing and confidence reasons it looks better still to add some barrels back,” he added.
Rigzone has contacted OPEC for comment on Wu and Crosby’s statements. At the time of writing, OPEC has not responded to Rigzone.
To contact the author, email andreas.exarheas@rigzone.com
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