Amman: Saudi Arabia, Russia, and six members of the OPEC+ alliance have agreed to implement a production increase of 137,000 barrels per day (bpd) as part of the group's ongoing adjustment strategy.
According to Jordan News Agency, the increase represents a partial rollback of the 1.65 million bpd voluntary production cuts announced in April 2023 and will take effect in December 2025.
In a statement, the Organisation of the Petroleum Exporting Countries (OPEC) said the eight participating countries will maintain their current production levels through the first quarter of 2026, while continuing to closely monitor and evaluate global market conditions.