OPEC+ Agrees to Increase Oil Production Starting May 2026 Due to This Reason

Jakarta, VIVA – Eight OPEC+ countries have agreed to increase their combined oil production limit by 206,000 barrels per day (bpd) in May 2026 compared to April levels. The eight OPEC+ countries are Saudi Arabia, Russia, Iraq, the United Arab Emirates (UAE), Kuwait, Kazakhstan, Algeria, and Oman.

The agreement was announced through an official OPEC+ statement. This is said to respond to the increasingly heated global geopolitical dynamics at present.

“In their collective commitment to support oil market stability, the eight participating countries have decided to implement a production adjustment of 206 thousand barrels per day from the additional voluntary adjustment of 1.65 million barrels per day announced in April 2023,” according to the statement, quoted on Monday, 6 April 2026.

“In their joint commitment to support oil market stability, the eight participating countries have decided to implement a production adjustment of 206 thousand barrels per day from the additional voluntary adjustment of 1.65 million barrels per day announced in April 2023,” the statement said.

“This adjustment will be implemented in May 2026 as per the following details,” it said.

It was explained that Russia will be able to increase its oil production by 62 thousand barrels per day in May from the April level, reaching 9.699 million barrels per day, according to OPEC. “In April, the maximum permitted production for Russia was at 9.637 million barrels per day,” it added.

Kuwait is permitted to increase production by 26 thousand barrels per day to 2.612 million barrels per day, while Oman can increase production by 5 thousand barrels per day to 821 thousand barrels per day, according to OPEC.

In April, the production limits for each were 2.596 million barrels per day and 816 thousand barrels per day, according to the statement. Saudi Arabia is permitted to increase production to 10.228 million barrels per day, the UAE to 3.447 million barrels per day, and Iraq to 4.326 million barrels per day, the organisation said.

Kazakhstan can increase production by 10 thousand barrels per day to 1.589 million barrels per day, while Algeria can increase production by 6 thousand barrels per day to 983 thousand barrels per day, according to OPEC data.

“The next OPEC+ meeting is scheduled for 3 May 2026,” it added.