Group made up of eight producing countries decided to increase oil production by 137 thousand barrels per day from December
A decided to increase oil production by 137 thousand barrels per day from December, according to a statement released after a virtual meeting held this Sunday (2). The meeting focused on assessing the conditions and prospects of the global energy market. According to the group, made up of eight producing countries, the decision takes into account the seasonal demand at the end of the year. However, OPEC+ members chose to suspend further production increases between January and March 2026, due to adjustments in the balance between supply and demand.
The countries reaffirmed their commitment to fully comply with the Declaration of Cooperation, which establishes production targets and voluntary cuts, monitored by the Joint Ministerial Monitoring Committee (JMMC). The objective of compensating for any excess production registered since January 2024 was also confirmed. OPEC+ will continue with monthly meetings to monitor market conditions, the level of compliance and compensation mechanisms. The group’s next formal meeting is scheduled for November 30, 2025.
