OPEC+ to Increase Oil Output in May to Maintain Market Stability

Eight key producers to raise output by 411,000 barrels per day as part of a gradual, flexible reversal of voluntary cuts, with adjustments subject to market conditions

In a move aimed at supporting oil market stability, eight OPEC+ member countries have agreed to incrementally increase crude production starting in May 2025. The decision, announced following a virtual meeting on April 3, reflects a unified approach among oil producers to navigate an evolving global energy landscape.

The participating nations — Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman — will implement a combined production adjustment of 411,000 barrels per day, representing three months’ worth of scheduled increases. This adjustment includes the increment planned for May, in addition to two monthly increments advanced from later in the year.

The decision follows earlier agreements reached on December 5, 2024, and reaffirmed on March 3, 2025, to gradually and flexibly reverse the voluntary cuts of 2.2 million barrels per day that were first introduced in April and November 2023. These cuts had been implemented to address oversupply and price volatility in global markets.

Flexibility Remains a Priority
The group emphasized that this production boost remains conditional and reversible, based on real-time market dynamics. This approach ensures that OPEC+ retains the ability to pause or reverse the increases if necessary, preserving the bloc’s role in fostering price stability and balanced supply.

“This flexibility is vital to ensuring continued support for the oil market amid global economic uncertainty,” the OPEC+ nations stated in a joint communiqué. They added that the updated plan also gives member states the opportunity to accelerate compensation for any overproduction that occurred since January 2024.

Commitment to Compensation and Transparency
OPEC+ reaffirmed its dedication to the voluntary adjustments agreed upon during the 53rd Joint Ministerial Monitoring Committee (JMMC) meeting held on April 3, 2024. The eight countries also committed to submitting revised front-loaded compensation plans to the OPEC Secretariat by April 15, 2025, with the data to be published on the Secretariat’s website to ensure transparency.

Monthly meetings will continue to play a central role in the alliance’s strategy. The group’s next session is scheduled for May 5, 2025, when production levels for June will be reviewed and decided based on prevailing market trends and compliance performance.

The collaborative and responsive nature of the OPEC+ approach continues to position the alliance as a key player in global energy stability, balancing supply with the demands of a recovering and transforming global economy.