Eight OPEC+ countries that had previously announced additional voluntary production adjustments in April and November 2023 — namely Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman — held a virtual meeting on 30 November 2025 to review the conditions and outlook of the global oil market.
On 2 November 2025, the eight participating countries confirmed their decision to suspend production increases in January, February, and March 2026 due to seasonal factors.
The eight countries also confirmed that 1.65 million barrels per day may be returned to the market partially or in full, depending on changing market conditions and on a gradual basis. They will continue to closely monitor and assess market conditions and, in their ongoing efforts to support market stability, reaffirmed the importance of adopting a cautious approach and maintaining full flexibility to either extend the suspension or gradually unwind the additional voluntary production adjustments.
The eight OPEC+ countries will hold monthly meetings to review market conditions, compliance, and compensation. The next meeting is scheduled for 4 January 2026.
Source: opec.org
