OPEC+ to increase oil production in June

Published at: 04/05/2025 09:10 AM

The Organization of Petroleum Exporting Countries and its allies (OPEC+) will implement an increase in crude oil production of 411 thousand barrels per day (b/d) during June 2025, according to a statement released this Saturday.

The eight members of the alliance that implement voluntary reductions in extraction—Algeria, Iraq, Kazakhstan, Kuwait, Oman and Russia—held a virtual meeting on May 3 to assess the energy market situation, according to a press release from Sputnik.

The announced adjustment is part of the agreement reached on December 5, 2024, which established a gradual and flexible recovery of voluntary cuts, initially set at 2.2 million barrels per day (mb/d) since April 1, 2025.

According to the report, starting in June, each country's production levels will be as follows: Saudi Arabia will reach 9,367 mb/d; Russia, 9.161 mb/d; Iraq, 4,086 mb/d; United Arab Emirates, 3,092 mb/d; Kuwait, 2,466 mb/d; Kazakhstan, 1,500 mb/d; Algeria, 928,000 b/d, and Oman, 775,000 b/d. However, these figures do not include adjustments for excess extraction in previous months.

OPEC+ representatives agreed to meet again on June 1 to discuss the expected pumping volumes for July.

Mazo News Team