“Given the global economic outlook of stability […] the eight participating countries will implement a production adjustment of 547,000 barrels per day in September 2025″, announced in a statement. This marks the sixth consecutive monthly increase.
This decision was made in a virtual meeting by Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman.
OPEC+ includes major oil exporters as well as allies like Russia.
The group is set to meet again on September 7 to assess whether production levels will be adjusted once more.
At the last session, the Brent crude oil price closed at $69.67 (approximately €60.12), a decrease of 3.94% compared to Thursday.
The decline in prices has been driven by trade tensions triggered by U.S. tariff policies.
