Seven OPEC+ countries agree to increase oil production in June
Seven OPEC+ countries agree to increase oil production in June
2026-05-02
Shafaq News – Middle East
Reports on Saturday indicated that the OPEC+ alliance had tentatively agreed to a slight increase in oil production quotas for June, ahead of an upcoming alliance meeting.
Reuters quoted two sources familiar with OPEC+’s direction as saying that “seven member countries of the alliance have tentatively agreed to raise oil production targets by about 188,000 barrels per day in June,” as part of continuing the approved plans.
The two sources added that “this increase is close to the one approved last month, which amounted to 206,000 barrels per day, after deducting the share of the UAE, which announced last week its surprise withdrawal from OPEC and the alliance, effective May 1.”
One of the sources indicated that “this decision confirms that OPEC+ is continuing with its usual approach.”
These developments come amid changes within the group’s structure following the United Arab Emirates’ withdrawal from “OPEC+”, which redistributes production quotas and affects decision-making balances within the oil alliance.
shafaq.com
