OPEC+ agrees to increase oil output
Seven members of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) have collectively agreed to increase oil output by 188,000 b/d in June.
IMAGE: OPEC's logo. Getty Images
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman have “decided to implement a production adjustment” of 188,000 b/d from the 1.65 million b/d “additional voluntary adjustments announced in April 2023,” it said in a statement.
In November 2025, the members decided to pause production hikes in the first quarter of this year, citing steady market conditions.
The output hike decision comes amid the escalating US-Israeli conflict with Iran that has triggered repeated strikes on energy infrastructure across the Middle East and following the surprise exit of core-OPEC member – the UAE.
“The additional voluntary adjustments announced in April 2023 may be returned in part or in full subject to evolving market conditions and in a gradual manner,” the Saudi Arabia-led group has reiterated.
The group’s two leading producers, Saudi Arabia and Russia, are set to ramp up production by an additional 62,000 b/d each, to produce about 10.29 million b/d and 9.76 million b/d of crude oil in June, respectively.
Iraq is expected to hike production by 26,000 b/d to about 4.35 million b/d next month.
The seven OPEC+ members will next meet on 7 June 2026 to “review market conditions, conformity, and compensation.”
By Aparupa Mazumder
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