The eight OPEC+ countries which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman, have agreed to increase oil production by 548 kb/d in August 2025 from July 2025 levels, further accelerating the group's phased rollback of earlier supply cuts. With this latest increase, OPEC+ will have restored a total of 1.918 mb/d of supply since April 2025, leaving just 280 kb/d remaining to be reinstated from the original 2.2 mb/d voluntary cut. In addition, the group has granted the United Arab Emirates permission to raise its output by an extra 300 kb/d beyond its share of the coordinated increase.
In November 2023, OPEC+ producers had agreed to voluntary output cuts totalling 2.2 mb/d for the first quarter of 2024, in order to support prices and stabilise the market. These additional production cuts were then extended to the end of 2024 and to the end of March 2025. In early March 2025, these 8 producers agreed to start reversing their 2.2 mb/d voluntary output cuts over an 18-month period from April 2025 to September 2026. The monthly increases have accelerated, from 138 kb/d in April 2025 to 411 kb/d over May-July 2025.
Despite this easing, OPEC+ still maintains other layers of production cuts totalling 3.66 mb/d, which remain in effect.