OPEC+ confirmed gradual production adjustments for May

Published at: 06/04/2026 06:07 PM

The Organization of Petroleum Exporting Countries (OPEC+) and its allies confirmed that the reimbursement of 206,000 barrels per day scheduled for next May is still in place as part of a market equilibrium strategy.

This decision stems from an exhaustive analysis carried out by Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman to ensure that the supply of crude oil responds prudently to international needs, the Última Noticias portal reported.

The oil block confirmed the continuity of its energy roadmap, which proposes to maintain gradual production adjustments in May after evaluating the behavior of global demand in its most recent virtual work session.

Participating nations emphasized the importance of maintaining full operational flexibility to increase, pause or reverse the gradual elimination of adjustments as economic conditions evolve.

In a statement, the group emphasized that this technical planning will facilitate the acceleration of outstanding compensations for any excess production registered since the beginning of the year.

The eight countries will continue to closely monitor and evaluate market conditions and reaffirmed their collective commitment to supporting the stability of the oil sector for the benefit of producers and consumers.

During the technical consultations, current industry conditions were reviewed and the fundamental role of the Declaration of Cooperation in maintaining global energy security was highlighted.

In this context, it was emphasized that safeguarding international shipping routes is crucial to allow the uninterrupted flow of supplies to major economies.

Member countries expressed deep concern about attacks directed against oil infrastructure and noted that restoring damaged assets is costly and time-consuming.

The statement adds that any action that undermines energy supply security increases market volatility and weakens collective cooperation efforts. The OPEC+ bloc even congratulated nations that have implemented alternative export routes to ensure continuous energy availability and reduce instability.

The eight OPEC+ countries will hold monthly meetings to review compliance with agreements and compensations.

The next meeting of this group of nations will take place on May 3, 2026 to evaluate the impact of the measures and define production strategies.

Mazo News Team