A statement posted on OPEC\u2019s website on Sunday revealed that Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman \u201cdecided to implement a production adjustment of 137,000 barrels per day\u201d at a virtual meeting on September 7.<\/p>\n
\u201cThe eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023 \u2026 met virtually on 7 September 2025 to review global market conditions and outlook,\u201d the statement noted.<\/p>\n
\u201cIn 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,\u201d it added.<\/p>\n
This adjustment will be implemented in October 2025, the statement said. A table accompanying the statement outlined that Saudi Arabia and Russia\u2019s adjustment amounts to 42,000 barrels per day, each. Iraq\u2019s comes to 17,000 barrels per day, the UAE\u2019s is 12,000 barrels per day, Kuwait\u2019s is 11,000 barrels per day, Kazakhstan\u2019s is 6,000 barrels per day, Algeria\u2019s is 4,000 barrels per day, and Oman\u2019s is 3,000 barrels per day, the table outlined.<\/p>\n
\u201cThe 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner,\u201d the statement posted on OPEC\u2019s site noted.<\/p>\n
\u201cThe 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,\u201d it added.<\/p>\n
\u201cThe eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation,\u201d it continued.<\/p>\n
\u201cThe 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),\u201d the statement went on to note.<\/p>\n
The countries also \u201cconfirmed their intention to fully compensate for any overproduced volume since January 2024\u201d, 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.<\/p>\n
The table accompanying the statement highlighted that October 2025 \u201crequired production\u201d 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.<\/p>\n
In a market analysis sent to Rigzone on Monday morning, Dilin Wu, Research Strategist at Pepperstone, highlighted that OPEC+ \u201cagreed to increase production by 137,000 barrels per day next month\u201d, adding that, \u201csince the market largely anticipated this move, the \u2018news effect\u2019 actually pushed crude higher in early trading\u201d.<\/p>\n
\u201cThat said, the long-term price pressure from rising supply remains a key concern,\u201d Wu warned in the analysis.<\/p>\n
\u201cSince 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,\u201d Wu said.<\/p>\n
\u201cThis highlights a strategic shift: OPEC+ is now focused on defending market share rather than supporting prices, keeping upward pressure in check,\u201d Wu added.<\/p>\n
Wu went on to note in the analysis, however, that OPEC+ \u201cmay still struggle to fully meet its production targets due to compensatory cuts, inconsistent compliance among members, and capacity limits\u201d.<\/p>\n
In a note sent to Rigzone by the Sparta Commodities team on Monday morning, Neil Crosby, Oil Analytics AVP at Sparta,\u00a0said the \u201cflat price enjoyed the announcement from OPEC\u201d.<\/p>\n
\u201cThe small hike might as well be labelled a pause but for marketing and confidence reasons it looks better still to add some barrels back,\u201d he added.<\/p>\n
Rigzone has contacted OPEC for comment on Wu and Crosby\u2019s statements. At the time of writing, OPEC has not responded to Rigzone.<\/p>\n
To contact the author, email\u00a0andreas.exarheas@rigzone.com<\/a><\/p>\n
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