Pakistan, Korea Move to Finalise CEPA Talks
May 3, 2026
OPEC+ members have agreed to raise oil production by 188,000 barrels per day starting June to stabilise global markets.
OPEC+ members have agreed to increase oil production by 188,000 barrels per day starting June, aiming to stabilise global energy markets.
The decision was taken during a recent meeting involving key producers including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman.
According to the official communiqué, the production increase is intended to maintain balance in the global oil market by addressing supply-demand dynamics and easing pressure caused by potential shortages.
The move reflects OPEC+’s continued strategy to carefully manage output levels in response to evolving global economic conditions and energy demand trends.
By adjusting production, the alliance aims to support price stability while ensuring sufficient supply for international markets. The increase is also expected to help participating countries better manage market fluctuations and strengthen overall energy security.
