Three OPEC+ sources said on Sunday that the group is planning to further accelerate the pace of oil production increases and may completely phase out voluntary production cuts of 2.2 million barrels per day by October 2025—if member nations do not improve compliance with their output quotas.
اضافة اعلان
According to Bloomberg, the OPEC+ alliance agreed during its meeting on Saturday to raise oil production again in June by 411,000 barrels per day, as reported by Reuters.
The agency stated that major alliance members—chief among them Saudi Arabia and Russia—reached an agreement today to increase production by 411,000 barrels per day starting next month, expediting the resumption of previously halted production.
It is worth noting that the OPEC+ alliance had agreed in early April to boost oil supplies in May with an increase equivalent to three monthly installments of its prior output-increase plan. Eight countries, including Saudi Arabia and Russia, agreed to raise production by 411,000 barrels per day starting in May 2025, with the increase covering May and two additional months.
