Saudi Gazette report

RIYADH — Eight OPEC+ countries — Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman — will raise collective oil production by 547,000 barrels per day in September 2025, the group announced after a virtual meeting on Sunday.

The increase is part of a phased rollback of 2.2 million bpd in additional voluntary cuts introduced in April and November 2023, under a plan agreed on Dec. 5, 2024, to gradually and flexibly restore output starting April 1, 2025.

The September boost, equivalent to four monthly increments, will be based on the August 2025 required production level.

OPEC+ said the pace of restoring production could be paused or reversed if market conditions change, allowing the alliance to maintain stability in global oil markets.

The group noted that the move will also allow participating countries to accelerate compensation for past overproduction.

The eight producers reaffirmed their commitment to the Declaration of Cooperation and to compensating for any excess output since January 2024.

They will continue holding monthly meetings to review market conditions, conformity, and compensation, with the next session scheduled for Sept. 7, 2025.