OPEC+ countries met virtually on May 31, 2025, to assess market conditions.

The meeting included eight countries: Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman.

A production adjustment of 411,000 barrels per day will be implemented in July 2025.

This adjustment is part of a gradual return of 2.2 million barrels per day starting from April 1, 2025.

Flexibility in adjustments is essential to respond to evolving market conditions.

Countries committed to full conformity with the Declaration of Cooperation.

Additional monitoring will occur for compensation of overproduced volumes since January 2024.

Monthly meetings will be held to review market conditions and conformity.

Next meeting scheduled for July 6, 2025, to discuss August production levels.

Participants emphasized the importance of supporting oil market stability.